Who regulates cryptocurrency in India? Explore the Reserve Bank of India's (RBI) role, legal developments, and India's evolving stance on crypto regulations. India’s cryptocurrency regulations are a work in progress. The Reserve Bank of India (RBI) plays a key role, having initially banned banks froRead more
Who regulates cryptocurrency in India? Explore the Reserve Bank of India’s (RBI) role, legal developments, and India’s evolving stance on crypto regulations.
India’s cryptocurrency regulations are a work in progress. The Reserve Bank of India (RBI) plays a key role, having initially banned banks from supporting crypto transactions in 2018—a decision overturned by the Supreme Court in 2020. Cryptocurrencies are not illegal, but they are not recognized as legal tender either.
Currently, there’s no dedicated regulatory framework for cryptocurrencies, though taxation on virtual digital assets (VDAs) was introduced in 2022. The government has proposed a Central Bank Digital Currency (CBDC) and is working on a bill to clarify crypto regulations. Meanwhile, RBI continues to caution against crypto’s risks, calling for greater oversight to ensure financial stability.
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Investors in India can apply for a New Fund Offer (NFO) through multiple channels, such as online investment platforms, stockbrokers, mutual fund distributors, or directly via the Asset Management Company (AMC) launching the NFO. The process generally requires submitting a subscription form and makiRead more
Investors in India can apply for a New Fund Offer (NFO) through multiple channels, such as online investment platforms, stockbrokers, mutual fund distributors, or directly via the Asset Management Company (AMC) launching the NFO. The process generally requires submitting a subscription form and making the necessary payment within the specified subscription period.
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