Back in early June, it became known about the Indian government's plans to liberalize its policy concerning the cryptocurrency sphere.
The journalists found out that the country's authorities have decided to legalize innovative tools. The corresponding bill will be developed by experts from the Ministry of Finance.
In February next year, the financial department plans to submit a document that is designed to regulate the blockchain industry. Thus, the Indian authorities decided to finally abandon the repressive course, realizing the futility of the policy of restrictions.
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Digital currencies will be treated as a separate asset class, Business Today reported, citing an unnamed source at the Ministry of Finance. According to him, the finance department and the Reserve Bank are currently jointly developing the framework for the future regulatory framework for the crypto market.
The country's Securities and Exchange Board (SEBI) may control the holders of digital assets.