exchange

Bloomberg: Indian regulators hint at strategy adjustment, cryptocurrency exchanges target Indian market

ChainCatcher news, according to Bloomberg, major cryptocurrency firms are returning to the Indian market, betting on a potential easing of regulatory policies. The U.S. exchange Coinbase has recently registered with the Indian Financial Intelligence Unit (FIU) and plans to launch a retail trading platform and expand its investments in India. Previously, platforms such as Binance, Bybit, and KuCoin have also completed their registrations, indicating a reconfiguration in the Indian market.India originally planned to release a cryptocurrency regulatory consultation document during its G20 presidency in 2023, but this has not yet been implemented. With the global policy environment shifting, particularly due to the pro-crypto agenda proposed by former U.S. President Trump, India is re-evaluating its regulatory strategy.Ajay Seth, Secretary of the Ministry of Economic Affairs of India, stated at a roundtable that several jurisdictions have significantly adjusted their positions over the past year. The risks of digital assets such as stablecoins, as well as the potential for cryptocurrencies to drive cross-border capital flows, could have profound impacts on emerging economies like India. He revealed that relevant discussion documents have been prepared but need to be revised according to the new circumstances.
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