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India to regulate crypto, avoids outright ban
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The note reportedly states that cryptocurrency will not be recognised as legal currency, and describes the currency as “cryptoassets”. These assets will be regulated by India’s markets watchdog, the Securities and Exchange Board of India (SEBI), and citizens will be required to declare their assets and refrain from keeping them on exchanges outside the country.
Individuals holding crypto will be given time to transfer their assets once the bill becomes law. Failing to transfer within the
. Read more on finextra.comAbout this in other media
Proposed bill banning crypto payments could mean jail for violations economictimes.indiatimes.com /3 years ago
India is said to consider capital markets regulator for crypto economictimes.indiatimes.com /3 years ago
Crypto bill to give power to Sebi, RBI, taxman to scrutinise KYC data of exchanges economictimes.indiatimes.com /3 years ago
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