The Indian government has engaged in numerous crypto-related initiatives and projects while actively drafting the regulatory framework for cryptocurrencies. Below are 11 crypto-specific initiatives that the government has been involved in.
Also read: Indian Supreme Court Postpones Crypto Case at Government’s Request
Committee to Draft Crypto Law
An interministerial committee under the chairmanship of Subhash Chandra Garg, Secretary of the Department of Economic Affairs, has been constituted to draft the regulatory framework for cryptocurrencies. Included on the committee are representatives from the Ministry of Electronics and Information Technology, the Reserve Bank of India (RBI), the Securities and Exchange Board of India (SEBI), and the Central Board of Direct Taxes.
The committee is “considering all aspects related to virtual currencies and crypto assets … including banning/regulating,” according to the Finance Ministry’s summary report released in March of the government’s activities in…