Global Move on Cryptocurrency Regulation: Will Indian Government Officials Boost the Market by Relaxing and Clarifying Crypto Regulation?!
The Indian government is moving toward legalizing cryptocurrency, according to reporting by The New Indian Express on December 26.
According to The New Indian Express, an Indian government official who spoke on condition of anonymity said the following.
“We are moving toward legitimizing cryptocurrency. We have already held two meetings on cryptocurrency regulation,
and in those meetings it was agreed that ‘cryptocurrency cannot be said to be entirely illegal.’”
Regulation will likely be stringent, but as discussions progress it will become clearer.”
Also, the next (third) meeting is scheduled for January 2019, and the Indian government official added the following:
“Because this is a difficult topic, we are incorporating opinions from cryptocurrency exchanges and experts, and
we will review in conjunction with the Ministry of Law on legal issues.”
While the Indian government has shown a strict stance toward cryptocurrency, this may serve as an opportunity for the spread and development of cryptocurrencies within India.
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