CoinDesk: India will not introduce cryptocurrency or Web3 legislation within 18 months

2023-12-07 21:07:34

Collection

ChainCatcher news, senior lawmakers told CoinDesk that India will not introduce cryptocurrency or Web3 legislation in the next 18 months.

Jayant Sinha, chairman of the Indian Parliament's Finance Standing Committee and a member of the ruling Bharatiya Janata Party (BJP), responded to reporters' questions about when India might see legislation specifically targeting Web3. Sinha stated, "Regulators and policymakers must be responsible not only for innovation (which we certainly want to encourage) but also for safety." We must truly find this balance, and this balance will continue to evolve over the next 12 to 18 months.

Given that 2024 is a year when elections may be held in India, the United States, and the United Kingdom, the evolution of global standards, and the new realities of industry evolution following the collapse of FTX and regulatory actions against Binance, Sinha's remarks indicate that at least in 2024, the stance on cryptocurrency is unlikely to take the form of legislation.

(Source Link)

Related tags

India Bill

ChainCatcher reminds readers to view blockchain rationally, enhance risk awareness, and be cautious of various virtual token issuances and speculations. All content on this site is solely market information or related party opinions, and does not constitute any form of investment advice. If you find sensitive information in the content, please click "Report", and we will handle it promptly.