Indian Prime Minister Narendra Modi makes the final decision on cryptocurrency regulation - regulation
Indian Prime Minister Narendra Modi makes the final decision on cryptocurrency regulation - regulation
reports that there is a high -ranking meeting to regulate cryptocurrency in India, and Prime Minister Narendra Modi will make a final decision on how India will regulate the crypto sector. All options are discussed, including a complete and partial regulation as well as a complete ban and partial prohibition.
Indian crypto regulation is said to be of Prime Minister Modi. can be decided
The Indian Prime Minister Narendra Modi will make a final decision on the country's cryptocurrency regulation, reported the Economic Times on Friday, citing two people familiar with the development.
On Thursday there was a high -ranking meeting to check all options as India should regulate the cryptoscut, the publication found and added:
The options include a complete ban on private cryptocurrencies, a partial ban that allows all categories of crypto products with regulation, or only a few with regulation.
The topics and concerns of the interest groups discussed at the meeting included the interests and concerns expressed by the country's central bank. The Reserve Bank of India (RBI) has explained on several occasions that it " Ernst "and" essentially "Consider the cryptocurrency.
The Indian government has a bill entitled "Cryptocurrency and Regulation of Official Digital Currency Bill 2021 ”, which is to be adopted in the current meeting of Lok Sabha, the lower house of the Indian parliament.
Last week the Indian finance minister Nirmala Sitharaman answered some questions about Cryptocurrency law and the government's plan for the crypto sector. She confirmed that the invoice is to categorically prohibit cryptocurrencies. Then reports appeared that the Indian government is planning, regulate crypto-assets, like Bitcoin, with the Securities and Exchange Board of India (Sebi) as the main regulator. However, other reports indicate that the government is trying to prohibit the use of crypto for payments And will set a deadline for investors to specify their crypto stocks. The draft law will also set universal know-your-customer rules (KYC) for crypto exchanges. The publication added that the finance minister completed the draft of the Mercy as a proposed cryptocurrency law. However, the government was of the opinion that some sections of the draft law would have to be discussed in more detail, in particular "the principles underlying the draft law" and the general details of how cryptocurrencies in India should be treated, the news agency said. One person found that "the discussions will probably focus on various options and advantages and disadvantages of their introduction", and explained: pm will now take one last call to them. In November, Prime Minister Modi A high-ranking meeting with the participation of the Ministry of Finance and the RBI. He also asked all the democratic countries, to ensure that that Cryptocurrencies, especially Bitcoin, do not get into the wrong hands. On Friday, the Prime Minister said on a virtual summit organized by US President Joe Biden that emerging technologies, including cryptocurrencies. should be used to strengthen democracy and not to undermine. What do you think, Prime Minister Narendra Modi will decide on India's crypto regulation? Let us know in the comment area below. Bedy verification : Shutterstock, Pixabay, Wiki Commons