India's markets regulator suggests multiple authorities oversee cryptocurrency trading

Bitget App

Trade smarter

Cointime2024/05/16 11:34

By:Cointime

India's Securities and Exchange Board has recommended that oversight of cryptocurrency trading should be divided among several regulators, including the Insurance Regulatory and Development Authority of India and the Pension Fund Regulatory and Development Authority. The suggestion was made to a government panel tasked with formulating policy for the Finance Ministry to consider. The Reserve Bank of India remains in favour of a ban on stablecoins, according to a person with direct knowledge of the panel's discussions. India's crypto policy has largely been in the hands of the Finance Ministry, which has refused to say whether crypto is legal or illegal in the nation, while imposing stiff taxes on the industry.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.

APR up to 10%. Always on, always get airdrop.

Lock now!

Share link:In this post: Panama City council voted in favor of becoming the first public institution of government to accept payments in cryptocurrencies. Citizens will now be able to pay taxes, fees, tickets and permits entirely in crypto starting with BTC, ETH, USDC, and USDT. The city partnered with a bank that will receive crypto payments and convert them on the spot to U.S. dollars, allowing for the free flow of crypto in the entire economy.

Cryptopolitan•2025/04/16 19:45