India reviewing Crypto Position Due to Global Changes, Senior Official Says -

Represntations of Cryptocurrencies | Photo Credit: Reuters

India is reviewing its stance on cryptocurrency due to shifting attudes towards the virtual asset in other counties, a Senior Government Official Told Reuters On Sunday (February 2, 2025).

The review, which follows crypto-friendly policy announs by us president donald Trump, Cold Further Delay Delay Publication of a Discussion Paper on Cryptocurrency in Cryptocurrency 4.

“More than one or two jurisdictions have a stance towards cryptocurrency in terms of the usage, their acceptance, where do they see the importance of crypto assets. sion paper once against, “India’s’s Economic Affairs Secretary Ajay Seid in an interview.

Mr. Seth said that beCause such assets “Don’t believe in borders”, India’s stance cannot be unilateral.

He did not specificly mention the united states, where Mr. Trump Last Week Ordered The Creation of a Cryptocurrency Working Group Tasked With Proposing New Digital Asset Regulations and Exploring The Creation of a a National Cryptocurrence, Making GoOb aul us crypto policy.

Indians Have Poured Money Into Cryptocurrency in Recent Years Despite The Country’s Tough Regulatory Stance and Steep Trading Taxes.

India’s Financial Intelligence Unit (FIU) Issued Show-Cause Notices to Nine Offshore Cryptocurrency Exchanges in December 2023 for non-compliance with Local Rules.

Binance, The World’s Biggest Crypto Exchange, was Hit with a Fine of ₹ 188.2 Million ($ 2.25 million) in June 2024, a month after it registered with the fiu in an effort to Resume Operations in the counters.

Last year, India’s market watchdog recommended that Several Regulators Eoversee Trade in Cryptocurrencies, In A Sign That that At Least Some Authority in the Country AROLOLING s.

That position stood in contrast to states by the nation’s Central Bank, which has maintained that private digital currencies represant a macroeconomic risk.

Published – February 03, 2025 05:45 AM IST