India Having ‘Detailed Discussions’ With G20 Members on Crypto Regulation – Regulation Bitcoin News
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India is continuing to work on crypto regulation and is now having detailed discussions with G20 members on the same. The country is hoping to develop a framework for regulating digital assets.
The Indian government has been looking into the possibility of regulating cryptocurrencies since 2018. The move has been welcomed by crypto industry stakeholders, who have been pushing for a clear regulatory framework in the country.
However, the progress on the matter has been slow due to the lack of consensus among the various stakeholders. Now, it appears that the government is making some progress on the matter.
According to reports, India has been holding detailed discussions with G20 members on the matter of crypto regulation. The discussions are said to be focused on developing a framework for regulating digital assets.
The discussions are being held under the aegis of the Financial Stability Board (FSB), which is an international body that works to ensure the stability of the global financial system.
The FSB has been working on the issue of crypto regulation for some time now. It has been studying the matter and has released several reports on the same.
The Indian government is now hoping to use these reports to develop a framework for regulating digital assets in the country. This is expected to be a major step forward in the development of the crypto industry in India.
The discussions with G20 members are also expected to provide valuable insights into the regulatory approaches adopted by other countries. This will help the Indian government to develop a comprehensive framework that takes into account the best practices adopted by other countries.
The Indian government is also said to be considering the possibility of introducing a tax on cryptocurrencies. This is likely to be a major point of contention with the crypto industry, which is already facing a lot of regulatory uncertainty.
The Indian government is yet to make any official announcement on the matter. However, the fact that it is having detailed discussions with G20 members on the matter of crypto regulation is a positive sign.
It remains to be seen how the discussions progress and what kind of framework the Indian government eventually comes up with. In the meantime, the crypto industry will be closely watching the developments and hoping for a clear regulatory framework that provides clarity and certainty.
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