India’s impending general election could affect the government’s process of regulating the crypto industry. A local lawyer has explained to news.Bitcoin.com how the election can impact regulations. According to the Indian Election Commission’s code of conduct rules, no new law can be passed during the election.
Also read: Indian Supreme Court Postpones Crypto Case at Government’s Request
Election Could Delay Crypto Regulation
India’s general election is approaching with the voting due to take place in seven phases between April 11 and May 19. The results will be announced on May 23. Explaining how the election could have an impact on crypto regulation in India, Varun Sethi, founder of Blockchain Lawyer, told news.Bitcoin.com Saturday:
During election time in India, ‘aachar sanhita’ or code of conduct applies. Thereby no new law can be passed. Thereby we do not expect government to officially announce any regulation regarding cryptos or others.
Sumit Gupta, CEO of local crypto exchange Coindcx, also shared with…