The government of India in the next week or decision bitcoin regulatory framework for the regulatory framework covering other digital currencies
According to local media reports, the India government will meet to discuss relevant bitcoin regulatory framework in the next week, including other digital currency regulation. India’s leading bitcoin exchange introduces relevant contents in an interview.
Next week, the India government will focus on bitcoin regulatory framework
According to “Dna” reported that the India government will be held next week supervision of bitcoin, and other encryption currency management framework of decision making. However, there is no more details about this framework, nor the decision given. “On the virtual currency bitcoin or whether it should be prohibited, regulatory or self regulatory problem has been discussed for a long time,” wrote the publication.
In order to bitcoin regulatory framework for further consideration of the country, the Ministry of Finance called for all major officials meeting. The meeting was scheduled to be held on Monday, but has now been postponed to next week.
The meeting was attended by deputy chairman NitiAayog ArvindPanagariya, governor of the Reserve Bank of India (RBI) – Uri Kit Patel, chairman of the India securities and Exchange Commission Tyagi and other important officials.
What is really looking forward to next week
In April this year, the India government set up a committee to investigate bitcoin, and look forward to next month’s report. The committee is also responsible for the assessment of India and the global digital currency current legal and regulatory framework.
Last month, the government to solicit public opinion on the Mygov website, to discuss the regulatory bitcoin whether it should be. The deadline for comments is May 30th. However, even after the deadline, there are still some people on the job. As of press time, a total of 3889 comments appeared on the website.
India chief executive of a leading bitcoin exchange and co-founder of SathvikVishwanath said:
“Now, the Committee began the study of stakeholders from bitcoin industry comments, and comments from the public, with reference to the existing laws and regulations, and finally puts forward whether bitcoin regulatory suggestions for the next step.”
He added, “this is not a decision, but according to tell our proposal in the internal meeting.”
He said: “many government departments and other regulatory agencies are still hot in bitcoin.” He pointed out that the committee “before seeking public opinion had asked for our advice in an internal meeting”. At the same time, India’s central bank has adopted a wait-and-see policy, “Vishwanath said, although it has released several digital currency for public warning.
India’s leading bitcoin exchange Zebpay SandeepGoenka co-founder of the government on the establishment of bitcoin regulatory initiatives agreed next step. He said:
“They are setting up a working group, take 6 months to make a suggestion.”