India to release crypto regulations draft before the year ends

India to release crypto regulations draft before the year ends

Cryptocurrency's destiny in India may become more visible when the regulations plan is published next month. 

After a long period of denial and rejection, the Indian government is reported to produce a draft of cryptocurrency law before the year ends.

According to The Next Web, the draft will clarify how the government sees digital currency and how it should be utilized or traded in the country.

The finance ministry sets the team who creates the design since a year ago and expected to be ready to form a draft report and bill on “virtual currencies, use of shared ledger technology in (the) financial system and framework for digital currency in India.”

The head of the drafting panel, Subhash Chandra Garg said earlier that the new regulations would be implemented starting May 2019. Whether or not the organization will manage to achieve the deadline, it’s still directed to the connections that will take place in December and January 2019.

#India #Regulations

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