India does not plan to introduce additional measures to regulate cryptocurrencies
Indian regulators, according to analysts, do not plan to introduce additional procedures to regulate the industry in the near future. We are talking about the prohibition or encouragement of trading in crypto-currencies.
The 30% tax on crypto income introduced in April did not please the industry. However, this is where India seems to end its control over the cryptocurrency space for now. The authorities will wait for the decision of the world community on this issue.
The global consensus on cryptocurrency will be taken into account by India for planning further steps in the legislative field. Thus, the regulatory framework for the regulation of cryptocurrencies will be formed in accordance with the global view on these issues.
The Indian authorities have said regulation of the industry requires a global approach. This, in particular, was stated by Prime Minister Narendra Modi (Narendra Modi). According to experts, this is the right approach.
Investors in cryptocurrencies positively assessed this news, since the attitude of Indian regulators towards cryptocurrencies was controversial earlier. This also applies to prohibitions and criminal liability for working with digital assets.
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