India Mulling Crypto U-Turn
According to a Sunday report by Reuters, India is currently reconsidering its position on cryptocurrencies due to changing attitudes around the globe.
Ajay Seth, who has been leading the Department of Economic Affairs (DEA) since 2021, has noted that several jurisdictions now view crypto differently when it comes to use cases and the level of acceptance.
According to Seth, India's stance has to align more closely with the global consensus.
Last October, it was reported that India's cryptocurrency-focused discussion paper was put on the back burner, and it is not clear when it is going to be released since there is no definitive timeline. The paper, which aims to introduce clear crypto rules, was supposed to be unveiled in September.
In November, local media outlets reported that India started re-considering a cryptocurrency ban due to some risks posed by the sector. The country's authorities view a central bank digital currency (CBDC) as a more viable alternative.
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.
You may also like
Trending Cryptos of the Week: TIA and BERA Lead the Charge as DeFi and Layer-1s Heat Up
SpaceX plans to conduct the eighth test flight of Starship on February 26
White House: Trump confident that Russia-Ukraine conflict talks can be completed this week
Trending news
MoreCrypto prices
More








