India Developing Crypto Regulations Within 6 Months Based on IMF-FSB Framework

India is working on a 5-point crypto regulatory framework based on IMF-FSB recommendations.
The framework may result in legislation within 5-6 months and focuses on KYC, proof of reserves, uniform taxation, authorized dealer status for exchanges, and mandatory positions.
India called for a global approach to crypto regulations at the recent G20 summit.
IMF-FSB recommendations provide a framework for India to decide its crypto regulations going forward.
Banning cryptocurrency is no longer an option for India, regulations are seen as inevitable.

cointelegraph.com

Relevant topic timeline:

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Posted 9/11/2023, 10:07:05 AM

India Developing Crypto Regulations Within 6 Months Based on IMF-FSB Framework

India is working on a 5-point crypto regulatory framework based on IMF-FSB recommendations.
The framework may result in legislation within 5-6 months and focuses on KYC, proof of reserves, uniform taxation, authorized dealer status for exchanges, and mandatory positions.
India called for a global approach to crypto regulations at the recent G20 summit.
IMF-FSB recommendations provide a framework for India to decide its crypto regulations going forward.
Banning cryptocurrency is no longer an option for India, regulations are seen as inevitable.