The Indian Parliament Committee discusses crypto regulation with industry experts-regulation
The Indian Parliament Committee discusses crypto regulation with industry experts-regulation
India's parliamentary finance committee has held a meeting with representatives of the crypto industry and other interest groups on the subject of cryptocurrency and its supervision. "There was an insight that cryptocurrency cannot be stopped but must be regulated" and "there was agreement that a regulatory mechanism should be introduced to regulate the cryptocurrency."
First parliamentary meeting on the subject of crypto with stakeholders and industry experts
The permanent finance committee of India met on Monday with representatives of the crypto industry. This was India's first parliamentary discussion about the broad topic of crypto financing, including the industry.
According to a message from the Loksabha Secretariat, the official agenda of the meeting distributed to the parliamentary members was to hear the views of associations and industry experts "On the subject of 'cryptofinance: opportunities and challenges'" Jayant Sinha from BJP.
sinha said the news agency PTI before the meeting:
We called stakeholders from the entire industry, including operators of large stock exchanges, members of CII [Confederation of Indian Industry] and academics of the Indian Institute of Management (IIM) Ahmedabad, who carried out a very thorough study on cryptofinancing.
The representatives of the crypto industry are reported to be managers of crypto and members of the Blockchain and Crypto Assets Council (BACC). The aim of the meeting was to discuss the further path for the crypto industry and the promotion of crypto in India.The result of the meeting and the need for cryptor regulation
After the meeting, sources of the Ani publication shared:
it was agreed that cryptocurrency cannot be stopped, but it has to be regulated ... there was agreement that a regulatory mechanism should be introduced to regulate cryptocurrency.
However, the publication added that industry associations and representatives of interests were not clear who the supervisory authority should be for the crypto sector in India.
In addition, the security of the money of the investors was the greatest concern of the parliamentary members at the meeting. A MP emphasized his concern about all-round crypto ads in national newspapers.
Another Member of Parliament pointed out that El Salvador was the only country that, in addition to the US dollar, recognizes cryptocurrency as a legal means of payment. "Experts said that cryptocurrencies are a kind of democracy of investors," stated the publication and added:
Members of the parliamentary permanent finance committee now want government officials to appear before them and address their concerns.
Recently, the governor of the central bank said that the Reserve Bank of India (RBI) had serious and great concerns about cryptocurrency. "Cryptocurrencies are a serious problem for the RBI from the point of view of macroeconomic and financial stability." Shaktikanta that.
What do you think of the meeting of the Indian parliamentary committee with industry experts on the subject of crypto? Let us know in the comment area below.
Bedy verification : Shutterstock, Pixabay, Wiki Commons
Kommentare (0)