Blockchain and cryptocurrency committee of india bacc
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- Parliamentary committee to meet crypto industry players today
- First-ever parliamentary meeting on regulations of cryptocurrencies today
- What's Driving Investor Interest In Crypto Startups Despite Regulatory Swings
- Parliamentary Committee To Meet Crypto Players of India
- Crypto Industry Urges Govt To Take Nuanced Approach, Asks Investors To Remain Calm
- Should Cryptocurrency Exchanges Self-Regulate?
- India's Crypto Bill: New cryptocurrency Bill Proposes To Ban Private Players
- Crypto may be Allowed as Assets
Parliamentary committee to meet crypto industry players today
The main features of the code include online know-your-customer KYC verification of all customers, checking for fraud, investor education, an audit trail of all transactions, grievance redressal and full compliance with law enforcement and tax authorities. The Indian government has been sitting on a crypto regulation bill for at least a year.
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First-ever parliamentary meeting on regulations of cryptocurrencies today
The Cryptocurrency and Regulation of Official Digital Currency Bill, , is listed for introduction in the upcoming winter session in the Parliament. In a press statement, BACC-IAMAI fully concurred with this view and in its submission before the Supreme Court earlier listed several negative outcomes of a ban such as zero accountability and traceability of the origin and end usage of the cryptocurrencies; besides a complete evasion of taxes. It said, the Council has advocated their use only as an asset. Salvadorans not taking the Bitcoin bait? Shreyas Iyer kisses maiden Test cap handed by Gavaskar. How Miss World polarised Bengaluru.
What's Driving Investor Interest In Crypto Startups Despite Regulatory Swings
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Parliamentary Committee To Meet Crypto Players of India
After much speculation about whether India will introduce a blanket ban on crypto , the government has finally dropped a major hint that it will not do so. The Indian crypto industry representatives told Decrypt that their constructive engagement with the government has paid off. That fuelled much anxiety in the Indian crypto industry. The exceptions in the draft bill were only granted to blockchain technology while remaining hawkish on cryptocurrencies.
Crypto Industry Urges Govt To Take Nuanced Approach, Asks Investors To Remain Calm
While India does not yet have clear regulations on cryptocurrencies and exchanges, the govt has maintained that virtual currencies are not held as legal payment instruments in the country, but the Finance Minister did not say that cryptocurrencies were illegal. Cryptocurrency exchanges would argue that neither are gold, stocks, and bonds considered as legal tender. But there has been no regulatory action as it is not easy to determine who regulates the new technology of virtual currencies. In the past, it has been argued that cryptocurrencies should be considered as an asset or commodity and be regulated by the Securities and Exchange Board of India SEBI , rather than being considered a currency per se. Bitcoins and other cryptocurrencies garnered attention and piqued the curiosity of many in India due to the phenomenal rise in its price in early-mid As a result, the threat of price volatility, speculative trading, and hack attacks all call for stricter regulation from the government on virtual currencies.
Should Cryptocurrency Exchanges Self-Regulate?
New Delhi: A parliamentary committee on finance is likely to hold a meeting of top stakeholders of the crypto industry on Monday to discuss the opportunities and challenges. The meeting expected to be a closed-door one will be attended by people from top crypto exchanges, members of the Blockchain and Crypto Assets Council BACC among others, according to the Economic Times. Such a meet is going to be held for the first time where the government committee has invited industry stakeholders for a discussion on the industry. The discussion with stakeholders comes after Prime Minister Narendra Modi had chaired a meeting on the way forward for cryptocurrency as a result of the rising number of advertisements, featuring even film stars, promising easy and high returns on investments in cryptocurrencies, which are not legally recognised in India. There was also consensus that the steps taken in this field by the government will be progressive and forward-looking," news agency PTI reported on Saturday. The meeting was a comprehensive one and there were also discussions regarding how to stop non-transparent and over-promising advertisements that mislead young investors, ANI tweeted. The government will continue to speak to experts and other stakeholders of the industry on the issue.
India's Crypto Bill: New cryptocurrency Bill Proposes To Ban Private Players
The Indian parliament held its first meeting on the future of cryptocurrencies in the country on Monday. Blockchain and Crypto Assets Council BACC members, industry bodies and stakeholders also participated in the meeting, chaired by the leader of the ruling party, Jayant Sinha. The meeting was hosted by the Parliamentary Standing Committee on Finance.
Crypto may be Allowed as Assets
RELATED VIDEO: Crypto: India wants to launch digital rupeeWhile the older law sought to impose a complete ban on all crypto-related activities including mining, buying, holding, selling, and dealing, the new one will look to make a clear distinction when it comes to its often used categorisation as a currency. Currently, there is no regulation or any ban on the use of cryptocurrencies in the country. However, it allows for certain exceptions to promote the underlying technology of cryptocurrency and its uses. The bank warned users, holders, and traders of virtual currencies about the potential financial, operational, legal, customer protection, and security-related risks they are exposing themselves to.
The Indian government has added another crypto bill to the forthcoming winter session of parliament, titled "The Cryptocurrency and Regulation of Official Digital Currency Bill, The crypto law, which intends to govern digital currencies, will be submitted in Parliament during the upcoming winter session, which begins on November According to a government statement released on Tuesday, the bill is one of 26 that have been scheduled for the introduction. The first-ever Parliamentary panel discussion on cryptocurrencies was held last week, with the conclusion that cryptocurrency cannot be banned in India, but must be regulated. PM Modi urged democratic nations to work together to regulate private virtual currencies, warning that they could end up in the "wrong hands" if they are not regulated. PM Modi said it was critical to guarantee that digital currencies were not utilised in an illegal manner in a speech delivered at the Sydney Dialogue last Thursday.
Bangalore, September 27, Hedera Hashgraph, the most used, sustainable, enterprise-grade public ledger for the decentralized economy, today announced the launch of the Hedera India Hackathon , inviting young Indian. New Delhi , September 10, OroPocket, a fintech solution that tokenizes real-world assets like gold, silver, and other precious metals into digital assets, today announced the launch of its. CoinSwitch Kuber has reached.
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