{"id":134078,"date":"2024-07-26T10:00:04","date_gmt":"2024-07-26T07:00:04","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=134078"},"modified":"2024-07-26T01:51:29","modified_gmt":"2024-07-25T22:51:29","slug":"india-to-develop-comprehensive-crypto-policy-by-september","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/india-to-develop-comprehensive-crypto-policy-by-september\/","title":{"rendered":"India to Develop Comprehensive Crypto Policy by September"},"content":{"rendered":"<p>This <strong><a href=\"https:\/\/ca.finance.yahoo.com\/news\/india-release-crypto-policy-stance-072904033.html\" target=\"_blank\" rel=\"nofollow\">initiative<\/a><\/strong> signals a potential shift in the country\u2019s regulatory stance on digital currencies, with a discussion paper expected by the third quarter of 2024.<\/p>\n<p>RBI and SEBI are joining forces with other government entities to draft a new crypto policy for India. Economic Affairs Secretary Ajay Seth announced that the discussion paper will collect feedback from various stakeholders on proposed regulations.<\/p>\n<p>Currently, India\u2019s approach focuses on anti-money laundering (AML) and counter-terrorism financing (CTF) measures, which were extended to crypto assets and intermediaries in March 2023.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/u-s-senator-opposes-bidens-proposed-30-tax-on-bitcoin-mining-electricity\/\" title=\"U.S. Senator Opposes Biden\u2019s Proposed 30% Tax on Bitcoin Mining Electricity\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/joe-biden-240x170.jpg\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">U.S. Senator Opposes Biden\u2019s Proposed 30% Tax on Bitcoin Mining Electricity<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>The discussion paper will explore major policy questions and the regulatory scope for cryptocurrencies, amid differing views within Indian authorities.<\/p>\n<p>SEBI is open to private virtual asset trading, while the RBI remains concerned about potential macroeconomic risks. This marks a significant development following the Supreme Court\u2019s 2020 decision to overturn the RBI\u2019s 2018 ban on crypto-related financial services.<\/p>\n<p>The forthcoming paper is expected to align with the G20-endorsed IMF-FSB framework, advising against outright bans on crypto activities. SEBI\u2019s recommendation for multiple regulators to oversee crypto trading nationwide has received attention, suggesting a potential shift towards a more inclusive regulatory approach.<\/p>\n<p>In summary, the collaboration between RBI and SEBI to develop a comprehensive crypto policy represents a significant step towards a balanced and inclusive regulatory environment for cryptocurrencies in India. The upcoming discussion paper aims to reconcile differing viewpoints and establish a robust framework for digital assets.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>India&#8217;s central bank, the Reserve Bank of India (RBI), and the Securities and Exchange Board of India (SEBI) are collaborating with an inter-ministerial group to develop a comprehensive cryptocurrency policy.<\/p>\n","protected":false},"author":3,"featured_media":31710,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[25],"tags":[],"class_list":["post-134078","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-regulations"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>India to Develop Comprehensive Crypto Policy by 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