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This move by the world’s largest stock exchange can have a significant impact on the adoption of cryptocurrencies and NFTs.
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This move by the world’s largest stock exchange can have a significant impact on the adoption of cryptocurrencies and NFTs.
This may be a sign that India's crypto space is evolving into a mature financial market even as tax uncertainties loom.
While most crypto exchanges in India welcomed the announcement, lawyers urged to consider the exact implications.
The government had taken issue with promises of wild profits made by crypto ads that will now have to carry disclaimers.
It also gave the government pointers on how to decide taxation of crypto assets, starting with its classification under the law.
Loopholes in FEMA and the decentralised nature of crypto-assets point to a need for effective regulations.
This development comes 8 months after MediaNama reported how private banks shut off its banking services to crypto exchanges
Amid confusion on what approach the government will take to regulate cryptocurrency, this report pushes for a new framework.
The scope of blockchain tech in providing financial services was also revealed by the Ministry, separately.
"Misleading" crypto advertising has elicited strong feelings from the Indian government recently.
