INDIA IS moving closer to regulating cryptocurrency, with the government seeking public input to shape its approach. The Department of Economic Affairs (DEA) is preparing a consultation paper expected to be released between September and October 2024. This paper will invite feedback from various stakeholders, including industry experts, companies, and the general public, on how digital currencies should be regulated in the country.
The goal is to create a regulatory framework that reflects diverse viewpoints, ensuring a well-informed and effective approach to cryptocurrency regulation. This effort is part of the broader government strategy to address the complexities of digital currencies and their impact on the financial system.
