According to Odaily Planet Daily, Indian Economic Affairs Secretary Ajay Seth said that India plans to release a discussion paper on cryptocurrency policy by September. An inter-departmental group including the Reserve Bank of India and the Securities and Exchange Commission is studying relevant policies.
Seth stressed that the document is intended to solicit stakeholder input rather than commit to comprehensive legislation. Currently, India has no comprehensive cryptocurrency regulations, but has imposed high taxes on the industry and requires cryptocurrency entities to register with the Financial Intelligence Unit to comply with global anti-money laundering and counter-terrorist financing standards.
