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G20 crypto resolution: Will it be a step forward for virtual digital asset regulation in India?
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Synopsis
Crypto regulation was a key agenda of the G20 summit. While regulations and a framework are yet to be finalised, consensus emerged that a blanket ban was not feasible. This was based on the report formulated by the IMF and the Financial Stability Board endorsed by G20 nations. ET Prime looks at key takeaways and the path ahead.
Everything about crypto assets in India is cryptic – legislation, regulation, reporting and licensing mechanisms, all, and sundry. With the G20, the hope is that India’s love-hate relationship with cryptocurrency will transform for the better, if the cues from the recent summit are any indication. So far, the crypto story has had a familiar plot. The Reserve Bank of India (RBI) has always advocated a ban on cyrpto currencies – the central bank
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