India’s New Crypto Law Is Ready To Red-Flag Chit Funds, MLM Business Models

India is set to red flag a number of investment schemes launched by individuals and cryptocurrency exchanges that are similar to chit funds, multi-level marketing (MLM) and systematic investment schemes (SIPs), as it is a bulwark for vulnerable rural security. Strives to create a strong regulatory framework. Population buying risky crypto assets. Regulators including the … Read more

RBI-backed CBDC likely to be included in crypto bill: Officials

New Delhi: A top government official told ET that the proposal for a Central Bank Digital Currency (CBDC) backed by the country’s banking regulator may be included in the upcoming bill. Describing the Centre’s bill as a response to the central bank’s concerns about macro-economic stability, an official familiar with discussions on the upcoming legislation … Read more

Crypto companies, investors wait with bated breath as India moves to ban ‘private’ tokens

New Delhi: The prices of bitcoin and other major cryptocurrencies fell sharply on Indian exchanges after the government listed a bill to ban all “private” tokens. But entrepreneurs and investors are hopeful that things won’t get too bad. The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, which aims to ban all private cryptocurrencies … Read more

India to consider allowing crypto trading for certain investors

According to people familiar with the matter, India is considering a proposal to treat cryptocurrencies as financial assets while protecting small investors. The discussion comes as officials race to finalize a bill Prime Minister Narendra Modi’s government seeks to introduce in Parliament in a session starting November 29. The law may set a minimum amount … Read more

We need to wait and see how the government proceeds on crypto: Nischal Shetty

Most importantly, crypto as a topic is now being discussed nationally and there is a far greater understanding of the subject and subject matter across the country and within lawmakers, says Nischal Shetty, Founder and Chief Executive Officer, WazirX. If you go by the details, it looks like the government is going to ban all … Read more

Government lists cryptocurrency bill to be passed in winter session

MUMBAI: The government has listed a cryptocurrency bill in its legislative action plan for the winter session of Parliament beginning November 29. ‘Govt lists ‘Cryptocurrency and Regulation of Official Digital Currency Bill 2021’ for winter session When India introduces a Cryptocurrency and Regulation Bill in the winter session of Parliament, it seeks to ban all … Read more

Crypto exchanges want the government to define different crypto assets

Crypto exchanges are lobbying for a definition of different types of crypto assets, while the government is looking to introduce a cryptocurrency bill in parliament this budget session, people with direct knowledge of the matter said. The current plan of the government includes creating a comprehensive framework around crypto assets that will make them legally … Read more

Crypto exchanges want the government to define different crypto assets

Crypto exchanges are lobbying for a definition of different types of crypto assets, while the government is looking to introduce a cryptocurrency bill in parliament this budget session, people with direct knowledge of the matter said. The current plan of the government includes creating a comprehensive framework around crypto assets that will make them legally … Read more