India has a number of laws that currently apply to cryptocurrency. A new Cambridge University report explains some of these laws. News.Bitcoin.com talked to one of the authors of the report to uncover more details. Meanwhile, the Indian government is currently finalizing regulations specific to crypto assets.
Also read: Indian Supreme Court Postpones Crypto Case at Government’s Request
Laws Applicable to Cryptocurrency
Cambridge University’s Centre for Alternative Finance has recently released its new Global Cryptoasset Regulatory Landscape Study, sponsored by Japan’s Nomura Research Institute. India is among the countries covered in the report which outlines a number of existing laws applicable to cryptocurrency and token sales.
While the Indian government is working on drafting the legal framework specifically for cryptocurrency, several existing laws apply to crypto assets in addition to the infamous RBI circular that prohibits all regulated entities from providing services to crypto businesses.