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Crypto asset ecosystem is not regulated in India: MoS Finance
The Daily Guardian
|December 18, 2024
Minister of State for Finance Pankaj Chaudhary said that crypto asset ecosystem is not regulated in India and the Reserve Bank of India (RBI) has from time to time cautioned users, holders, and traders of crypto assets and virtual currencies about the associated economic, financial, operational, legal, consumer protection, and security-related risks.
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The Minister, while replying to the question raised by Rajya Sabha MP Kartikeya Sharma, informed the Upper House that at the request of India's G20 Presidency, the International Monetary Fund (IMF) and the Financial Stability Board (FSB) developed a Synthesis Paper on policies for crypto assets and provides a coordinated and comprehensive policy framework addressing a wide range of risks, including those relevant to emerging markets and developing economies.
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