The Confederation of Indian Industries has proposed new regulations around the nascent crypto market.
The Confederation of Indian Industries (CII), a non-government trade association and advocacy group, has proposed to treat cryptocurrencies as securities of a special class. The trade association released a report titled “Cryptocurrencies, Crypto Tokens/Assets & Regulations: The Way Forward” where it advocates for regulating the crypto market instead of outlawing it, reported Business Line. The report highlighted substantial technological innovation that the core technology of blockchain can bring in the payment and remittance sector.The report proposes to formulate new regulations around the nascent crypto market instead of regulating them under existing securities law.“A new set of regulations appropriate to the context of crypto/digital currencies and their jurisdiction-less, decentralized character, should
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