Cryptocurrency Bill: Ban Off The Table, SEBI To Regulate Exchanges, Say Media Reports
The much-awaited cryptocurrency bill may put to rest the fears of a total ban, according to media reports.
The government would move to classify such tokens as "cryptoassets" to avoid any overlap with the Reserve Bank of India-issued digital currency, which is also in the works, NDTV and Mint reported citing a cabinet note on the bill and people aware of the matter.
The bill would bring all crypto exchanges operating in India within the purview of the Securities and Exchange Board of India, according to the reports. That, Mint reported, would help curb scams around cryptocurrencies.
Emailed queries to the Finance Ministry spokesperson didn't elicit a response.
India is considering to distinguish private cryptocurrencies from central bank digital tokens, Minister of State for Finance Pankaj Chaudhary had indicated while responding to queries during the winter session of parliament. The government has received a proposal from the RBI to enhance the scope of definition of "bank note" to include currency in digital form, he said.
The crypto bill, set to be tabled during the session, will affect India's more than 1.5 crore crypto buyers, who, according to think tank ORF, have invested Rs 660 crore in such holdings.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
-
Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
-
Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
