A thorough lack of transparency raises questions on just how ready India is to regulate crypto, leaving the crypto industry lobbying in every which direction.
To create a facilitative framework for creation of the official digital currency to be issued by the Reserve Bank of India. The Bill also seeks to prohibit all private cryptocurrencies in India, however, it allows for certain exceptions to promote the underlying technology of cryptocurrency and its uses.”
This one paragraph threw India’s crypto industry into an existential crisis, for the second time in three years.
On 29 January, the government listed “The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021” in the legislative order of business for the budget session of the Lok Sabha. The bill is slated …
Arti is a former writer at The Morning Context. She previously worked with publications such as ET Prime, VCCircle, Firstpost and EETimes. Arti has keenly tracked the evolution of financial technology in India and written some of the defining pieces on the ecosystem as it birthed and matured. Even when not writing about it, she loves to dissect the revenue models, margins and regulations that are shaping the sector.
artisingh@mailtmc.com