In the first-ever Parliamentary panel discussion about Crypto Finance, government officials concluded that cryptocurrency investments cannot be stopped in India, and hence, should be regulated. India’s Standing Committee on Finance led by BJP MP Jayant Sinha met with the crypto community, including representatives from crypto exchanges, industry bodies, and Blockchain and Crypto Assets Council (BACC) to discuss the concerns of cryptocurrencies in the country. The panel discussed the promotion and regulation of cryptos in India.
So now, the government aims to regulate the cryptocurrency market in India rather than making efforts to ban crypto trading and investments. Although it is currently unclear who or which authoritative body should be the regulator, MPs now want government officials to show up before the committee and discuss their concerns about crypto finance in India. So yeah, we will have more clarity on whether it is legal to buy or sell Bitcoin in India or not soon.
