South Asia and Beyond

Bill To Regulate Cryptocurrencies Likely

The government is expected to table a bill regulating cryptocurrencies in the coming winter session of parliament. This is a departure from the view that cryptocurrencies should remain banned but the unchecked and unregulated growth of the sector has raised red flags in the Reserve Bank and the government. There are concerns about macroeconomic and financial stability. Consultations are going on with regard to how it will be regulated, meaning by the RBI or SEBI or even both, how it will be taxed and so on.