What steps has India taken to review its cryptocurrency position amid global changes
Get insights into how India is adapting its stance on cryptocurrencies in response to global shifts in the market.
- India has set up a high-level inter-ministerial committee to study the impact of cryptocurrencies and propose regulations.
- The Reserve Bank of India (RBI) has expressed concerns about the use of cryptocurrencies for illegal activities and has issued warnings to investors about the risks involved.
- The Supreme Court of India overturned the RBI's ban on banking services for cryptocurrency exchanges, providing a boost to the industry in the country.
- The government has hinted at a possible regulatory framework for cryptocurrencies, acknowledging the need to balance innovation with consumer protection.
- India is closely monitoring global developments in the cryptocurrency space to inform its own approach and ensure the country remains competitive in the emerging digital asset landscape.
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3 months ago