Cryptocurrency Regulation In India

The government of India will be taking some more time in following other regions like the EU and the UAE in presenting a detailed crypto rulebook. As per Chaudhary, all of the G20 nations are currently in a phase where they are expected to analyse the pros and cons that crypto could bring.

The crypto sector was briefly mentioned in RBI’s recently released Financial Stability Report. Talking in particular about DeFi, the report said that global regulatory bodies like the Financial Action Task Force and the International Organisation of Securities Commissions (IOSCO) are constantly examining developments around DeFi.

The CBDC transactions that had hit the mark of one million transactions per day in December 2023, has dropped to just around 100,000 daily transactions. In a report citing official sources familiar with the matter, Reuters claimed that a lack of organic demand to use the eRupee is evident.

India has claimed that Binance, touted as the largest in the world, was not adhering to the Prevention of Money Laundering Act, 2002 (PMLA). Binance was supposedly given a written as well as a verbal submission about FIU’s concerns. The FIU has said that the charges regarding Binance having violated India’s legal requirements to operate its bus...

The Financial Innovation and Technology for the 21st Century Act (FIT21) has been approved by the US House of Representatives. With this, the US has finally joined the list of nations alongside India, Japan, and South Korea among others -- that are working on bringing the volatile and exploitable digital assets sector under regulatory oversight.

In its suggestion to the government, the Indian markets regulator SEBI said it could oversee cryptocurrencies that can be seen as securities as well as keep an eye on Initial Coin Offerings (ICOs). Leader of India’s digital asset sectors have reacted to SEBI’s suggestions rather positively.

The Bharat Web3 Association (BWA) recently hosted its first ever training and awareness workshop on the Prevention of Money Laundering Act (PMLA). The aim of this meeting was to open dialogues on the steps that could prevent the misuse of cryptocurrencies for unlawful activities like money laundering and terror financing.

Binance has registered with India's Financial Intelligence Unit (FIU) as the cryptocurrency exchange looks to resume its operations in India. The exchange was barred from operating in India in December for non-compliance with local regulations and can resume operations only after paying a penalty for previous non-compliances, which is yet to be det...

This week, the Securities and Exchange Commission of Thailand released a public order that said that it was coordinating with the Thai government to block unauthorised providers of digital assets services.

The FATF has expressed concerns about nations delaying deployment and adoption of crypto-related rules. The Paris-based global financial watchdog is leaving room for criminal activities to take shape.

RBI Governor Shaktikanta Das said on Thursday that the central bank's position on cryptocurrencies had not changed, despite wider acceptance in other countries. The central bank chief was responding to a question about the US securities regulator approving the first US-listed exchange-traded funds for Bitcoin. The RBI Governor has repeatedly stated...

India’s crypto rules could be 12-to-18 months away from being properly unveiled. The information was disclosed by Jayant Sinha during the India Blockchain Week that is being held in Bengaluru. Shah is the Chair of the Standing Committee on Finance in India's Parliament.

The Supreme Court has refused to entertain a petition seeking a direction to the Centre and others to frame guidelines for regulation of trading and mining of cryptocurrencies. A bench headed by Chief Justice D Y Chandrachud said the main reliefs sought in the plea were more in nature of a legislative direction.

The Monetary Authority of Singapore (MAS) has announced rules for the regulation of stablecoins. Web3 firms that wish to issue stablecoins in Singapore will have to ensure that they maintain minimum base capital and liquid assets. The country aims to avoid companies being exposed to the risks of collapse and insolvency.

Rajeev Chandrasekhar, the Union Minister of State for Electronics and Information Technology, has acknowledged that crypto and Web3 are indeed, elements of the next generation of Internet. Having said that, the minister did add that rules and regulations are most needed to govern the space and to make it safe for everybody to use and engage with.

The government of India will be taking some more time in following other regions like the EU and the UAE in presenting a detailed crypto rulebook. As per Chaudhary, all of the G20 nations are currently in a phase where they are expected to analyse the pros and cons that crypto could bring.

The crypto sector was briefly mentioned in RBI’s recently released Financial Stability Report. Talking in particular about DeFi, the report said that global regulatory bodies like the Financial Action Task Force and the International Organisation of Securities Commissions (IOSCO) are constantly examining developments around DeFi.

The CBDC transactions that had hit the mark of one million transactions per day in December 2023, has dropped to just around 100,000 daily transactions. In a report citing official sources familiar with the matter, Reuters claimed that a lack of organic demand to use the eRupee is evident.

India has claimed that Binance, touted as the largest in the world, was not adhering to the Prevention of Money Laundering Act, 2002 (PMLA). Binance was supposedly given a written as well as a verbal submission about FIU’s concerns. The FIU has said that the charges regarding Binance having violated India’s legal requirements to operate its bus...

The Financial Innovation and Technology for the 21st Century Act (FIT21) has been approved by the US House of Representatives. With this, the US has finally joined the list of nations alongside India, Japan, and South Korea among others -- that are working on bringing the volatile and exploitable digital assets sector under regulatory oversight.

In its suggestion to the government, the Indian markets regulator SEBI said it could oversee cryptocurrencies that can be seen as securities as well as keep an eye on Initial Coin Offerings (ICOs). Leader of India’s digital asset sectors have reacted to SEBI’s suggestions rather positively.

The Bharat Web3 Association (BWA) recently hosted its first ever training and awareness workshop on the Prevention of Money Laundering Act (PMLA). The aim of this meeting was to open dialogues on the steps that could prevent the misuse of cryptocurrencies for unlawful activities like money laundering and terror financing.

Binance has registered with India's Financial Intelligence Unit (FIU) as the cryptocurrency exchange looks to resume its operations in India. The exchange was barred from operating in India in December for non-compliance with local regulations and can resume operations only after paying a penalty for previous non-compliances, which is yet to be det...

This week, the Securities and Exchange Commission of Thailand released a public order that said that it was coordinating with the Thai government to block unauthorised providers of digital assets services.

The FATF has expressed concerns about nations delaying deployment and adoption of crypto-related rules. The Paris-based global financial watchdog is leaving room for criminal activities to take shape.

RBI Governor Shaktikanta Das said on Thursday that the central bank's position on cryptocurrencies had not changed, despite wider acceptance in other countries. The central bank chief was responding to a question about the US securities regulator approving the first US-listed exchange-traded funds for Bitcoin. The RBI Governor has repeatedly stated...

India’s crypto rules could be 12-to-18 months away from being properly unveiled. The information was disclosed by Jayant Sinha during the India Blockchain Week that is being held in Bengaluru. Shah is the Chair of the Standing Committee on Finance in India's Parliament.

The Supreme Court has refused to entertain a petition seeking a direction to the Centre and others to frame guidelines for regulation of trading and mining of cryptocurrencies. A bench headed by Chief Justice D Y Chandrachud said the main reliefs sought in the plea were more in nature of a legislative direction.

The Monetary Authority of Singapore (MAS) has announced rules for the regulation of stablecoins. Web3 firms that wish to issue stablecoins in Singapore will have to ensure that they maintain minimum base capital and liquid assets. The country aims to avoid companies being exposed to the risks of collapse and insolvency.

Rajeev Chandrasekhar, the Union Minister of State for Electronics and Information Technology, has acknowledged that crypto and Web3 are indeed, elements of the next generation of Internet. Having said that, the minister did add that rules and regulations are most needed to govern the space and to make it safe for everybody to use and engage with.