Indian Government on Cryptocurrency

Is there a chance that the cryptocurrency bill will pass?

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The ‘Crypto-token Regulation Bill of 2018’ proposed outright prohibition of virtual currency. The bill was eventually rejected after significant lobbying by business interests. Instead, the Reserve Bank of India (RBI) issued an order in April 2018 instructing banks to avoid trading in virtual currencies or providing services related to them. The order was appealed by … Read more

Who Will Be in Charge of Cryptocurrency Regulation?

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During the present Winter Session of Parliament, the government made it clear that it has no plans to grow the cryptocurrency business in India. While the government intends to alter the Income Tax (I-T) Act in Budget 2022-23 to bring cryptocurrency investments and trading under official scrutiny, it remains unclear who would regulate the industry. … Read more

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