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A deputy governor of India’s central bank, the Reserve Bank of India (RBI), likens cryptocurrencies to Ponzi schemes, emphasizing that they cannot be regulated. “It would be futile to regulate cryptocurrencies,” he claims, stating that they should be banned. RBI’s Deputy Governor Sees Crypto Ban as ‘the Most Advisable Choice Open to India’ A deputy … Read more
The Indian government is consulting with the Reserve Bank of India (RBI) on crypto policies. According to the finance minister, the government and the central bank are in “complete harmony” on crypto and other issues. Indian Government and Central Bank Discussing Crypto Policies Internally Indian Finance Minister Nirmala Sitharaman revealed Monday that the government is … Read more
The country’s finance minister admitted to not having enough information to make a fateful call. Go to Source Powered by WPeMatico
India’s finance minister, Nirmala Sitharaman, has reportedly revealed that the government is “constantly monitoring” and “watching the crypto sector.” Referring to her budget speech, she noted that crypto taxation will be implemented before the central bank, the Reserve Bank of India (RBI), issues its digital currency. Indian Finance Minister on Monitoring Crypto Sector and RBI’s … Read more
“You can buy gold, diamond, crypto, but that will have not have the value authorization by government,” said T.V. Somanathan. Go to Source Powered by WPeMatico
The Indian tax department head said crypto taxation will help the department evaluate the exact depth of the digital asset market. Go to Source Powered by WPeMatico
The Cryptocurrency and Regulation of Official Digital Currency Bill does not appear as one of the 15 bills the government body will consider during its next session. Go to Source Powered by WPeMatico
Indian government officials reportedly said that India’s cryptocurrency bill will require more time because crypto is a complex subject. The bill is therefore unlikely to be introduced in the upcoming session of parliament. The government reportedly wants to hold more discussions to build a consensus on a regulatory framework for crypto. Crypto Bill Unlikely to … Read more
Government officials from CGST Mumbai Zone recovered the funds from crypto exchange WazirX after detecting a GST evasion of $5.43 million on trade commissions. Go to Source Powered by WPeMatico
While the regulatory environment for cryptocurrencies in India is currently murky, the country has already witnessed an exponential rise in crypto popularity. Go to Source Powered by WPeMatico
