Will The Indian Government Bring Crypto Regulations In 4 Weeks?
Indian government has always maintained that cryptocurrencies are a threat in addition to their stance they these are digital assets and not currencies.
Indian Supreme Court as we know has given the the Union of India 4 weeks to come out with a policy on this matter. A poll on twitter that I came across showed that majority think Indian government is unlikely to come up with a working policy.
It's quite likely that this is how it will go down. With elections coming up and a whole lot of things going on it's unlikely the government will prioritise this matter.
The Garg committee is yet to present a draft but i'm hopeful that we'll see a regulatory draft sometime in 2019 if not in the next 4 weeks.
The attached image in this post is the actual order from the Supreme Court. It would be interesting to see which way this goes if the government refuses to submit the draft within a month.
RBI's mandate has made it very difficult for many businesses operating in this space in India. The only way to fix it by overturning the mandate and providing banking access once again to these exchanges.
Meanwhile, let's take a poll here and see what the results will be. So do you think Union of India will bring crypto-positive regulations in 4 weeks time?
- Yes
- No
Answer the question at dpoll.xyz.
In this very present situations , I think govt will take more time to settle the matter of crypto regulations,so its no from my opinion.
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While i'm hopeful for a regulations I find it a little unrealistic that Indian government will do anything in 4 weeks.
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It will take time.
Voted for - No
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Thanks for sharing update.
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Voted for no
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Voted for Yes!
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I think government will take more time to settle the issue.
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Yes they can.
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Instead of Voting let me write a reply as I am kinda in the middle. I have two views on this matter one is the fact that the Government totally ignores Supreme Court's order and the court takes matters into their own hands and the second being we getting some very bad regulation which may include unbiased taxation or anything that keeps users away from Cryptocurrency for the Time being.
Personally I would much rather get some good regulatory methods placed rather than some half baked regulations.
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GOI had its very last Cabinet meeting yesterday evening. There's nothing more it can do now for the rest of its tenure.
Yes