India not against blockchain tech, but cryptocurrency should be monitored, says FM

India is not against the blockchain technology, but currencies have to be monitored by either the government or the central bank, Finance Minister Nirmala Sitharaman said on Saturday.

• 2023-05-08
• Nirmala Sitharaman Reserve Bank of India blockchain technology India digital currencies digital assets

India's money laundering rules to apply to crypto trade - gov't notification

India's money laundering laws will apply to trade in cryptocurrencies, the federal government said in a notification dated March 7. The exchange between virtual digital assets and fiat currencies, the exchange between one or more forms of virtual digital assets and the transfer of digital assets will be covered under money laundering laws, the notification said. The safekeeping or administration of virtual digital assets and the participation in financial services related to the offer and sale

• 2023-03-08
• money laundering digital assets India Reserve Bank of India

G20 exploring cryptocurrency regulation, India's finance minister says

The Group of 20 (G20) big economies is exploring whether the group could collectively regulate cryptocurrencies, Finance Minister Nirmala Sitharaman said on Saturday. Given the sophisticated technologies involved with these virtual assets, countries must discuss whether a given regulation is needed, said Sitharaman, whose country is this year's G20 president. Prime Minister Narendra Modi's government has for several years debated drafting a law to regulate or even ban cryptocurrencies but has

• 2023-02-11
• Nirmala Sitharaman Prime Minister Narendra Modi G20 finance ministers Group of 20 Reserve Bank of India