Due to other priorities, India suspends the discussion document on cryptocurrency policy stance
ChainCatcher news, according to CoinDesk, two insiders revealed that India has not yet released a discussion paper outlining its cryptocurrency policy stance, as officials are focused on other priorities. The paper was initially expected to be published in September after consultations with stakeholders such as the central bank and market regulators. Insiders stated that the intention to publish still exists, but there is no timeline yet.India is the world's fifth-largest economy, but the country has not yet developed comprehensive cryptocurrency legislation, and this discussion paper is expected to take a step in that direction. The country claims that cryptocurrencies are unregulated, but it has imposed high taxes on the industry and requires cryptocurrency entities to register with the country's Financial Intelligence Unit (FIU-IND) to comply with anti-money laundering (AML) and counter-terrorism financing standards set by global organizations such as the Financial Action Task Force (FATF).