India’s crypto regulations can do with a HODL strategy
crypto asset market progresses, India finds itself at a pivotal juncture. There’s an opportunity to chart a course that delicately balances innovation in this nascent but super exciting sector, together with risk management, while drawing invaluable insights from the regulatory experiences of other nations. At the recent G20 Summit, India emerged as a leading advocate for standardizing regulatory frameworks for crypto assets on a global scale, championing international collaboration to address the inherently cross-border nature of crypto assets and the imperative to mitigate the macro-financial implications associated with them.
Countries worldwide are making significant strides. Markets in Crypto-assets (MiCA), the EU-wide regulation, will come into effect this year. MiCA, once put into action, will have a broad scope of application within the crypto asset ecosystem. Dubai International Financial Centre (DIFC), the leading global financial center in the Middle East, Africa, and South Asia (MEASA) region, enacted the world’s first Digital Assets Law. The UK government, which has a stated goal of being a global leader in Web3, has confirmed plans to regulate crypto assets through formal legislation in 2024 (It has said it intends to bring many crypto asset activities under the same regulations that govern banks and other financial services firms).
The most significant regulatory development of 2024 was issued by the US Securities and Exchange Commission (SEC), granting approval to 11 exchange-traded funds (ETFs) to
