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India: Calls for crypto regulations intensify ahead of Budget Session 2022

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AMB Crypto

Fri, Jan 14, 2022

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India’s digital payment system and financial services company, Paytm , had previously stated that it might dive into crypto once the regulatory environment becomes favorable.

Technology should be shaped and given an opportunity.” He further explained that blocking anything will lead to illegal markets for the asset, considering “this is too large technology to be paused.” India was rumored to be on the way to ban all private cryptocurrencies just last year.

“I’m so proud that we have a company like Polygon.” That being said, concerning the regulatory framework, Former Finance Secretary Subhash Chandra Garg suggested three different laws to regulate cryptos in India.

He told the local media, “I think it will make sense to bring a financial crypto assets kind of law, most probably by a separate regulator to regulate the entire digital assets of the crypto world...” It is worth noting that while the crypto bill didn’t make it to Parliament’s table last year, it is expected the government might provide some guidance during the upcoming budget session at the end of this month.

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