The Indian government stated in a recent declaration to Lok Sabha that there is no fixed timeline for the rollout of the comprehensive set of regulatory guidelines for the country's Virtual Digital Assets sector.
The Indian government stated in a recent declaration to Lok Sabha that there is no fixed timeline for the rollout of the comprehensive set of regulatory guidelines for virtual assets.
The government’s response followed queries posed by two Members of Parliament on what steps were being taken to set up a structured regulatory framework along with an expected timeline for such regulations.
However, challenges linger as India navigates the path of innovation and investor protection alongside economic strength and financial stability. Given that VDAs transcend borders, the investor protection framework is seen as lacking without robust international cooperation. A clear regulatory timeline leaves market participants with clarity to contend with, as policies rooted in national interest as well as shifting global consensus about how to regulate digital assets continue to take shape.
These latest developments uphold a rising vulnerability in India’s quickly changing crypto sector. While it leads many countries in grassroots digital asset adoption, its popularity has also put it at the top of the list for many fraudsters.
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India signals no fixed timeline for crypto rules, calls for global alliance – CoinMarketCap
