Here’s When India Plans to Unveil Crypto Discussion Paper

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While Indian crypto users were granted no relief from the draconian tax rules in India’s budget for 2024-2025, a crypto “discussion paper” outlining its policy stance on the industry could be released before September this year.The main objective behind the crypto discussion paper is to gather inputs from relevant stakeholders on the ideas outlined in it.India’s Crypto Discussion PaperIn an interview with Moneycontrol, India’s Economic Affairs Secretary Ajay Seth said that the discussion paper will include suggestions on how to regulate cryptocurrencies in India, which currently is only covered under anti-money laundering (AML) and electronic funds transfer (EFT) laws.Other important focus areas will be to explore whether the scope of regulation should be expanded and what the policy stance should be.An inter-ministerial group, including members from the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI), is developing a broader policy on cryptocurrencies. The discussion paper is anticipated to be ready before September.Seth was quoted saying,

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