During a highly volatile phase on the crypto market, we received news from India – insiders reported on regulatory projects.
The Indian central government could form a new panel of experts to investigate the possibility of regulating cryptocurrencies in India. This was reported by people familiar with the matter to the Economic Times. Before that, there were fears of a total ban on digital assets. This had been brought up by a committee under the leadership of the former finance minister Subhash Garg.
The task of the new committee could be to investigate the use of blockchain for technological improvements, according to the Economic Times. It could also suggest ways to regulate crypto as a digital asset rather than a currency. The committee could also be tasked with establishing the central bank digital currency (CBDC) of the Reserve Bank of India to pave the way, as it were.
“There is a view within the government that the recommendations of Subhash Garg’s committee are out of date. What is needed is a new look at the use of cryptocurrencies instead of banning them completely, ”said one of the officials familiar with the matter, according to the Economic Times.
This is another possible relief from the back and forth that the government in India has long practiced in regulating the crypto market. Already around two months ago there was talk of a kind of “grace period” for the possession of crypto currencies.
How do I buy Dogecoin? Guide and provider comparison 2021
We explain quickly and easily how you can buy Dogecoin safely and cheaply and what you should pay attention to!
To the guide >>