{"id":858,"date":"2018-11-22T15:22:05","date_gmt":"2018-11-22T15:22:05","guid":{"rendered":"https:\/\/icoholder.com\/blog\/?p=858"},"modified":"2025-06-12T16:15:47","modified_gmt":"2025-06-12T16:15:47","slug":"india-cryptocurrency-regulation-draft-nears-completion","status":"publish","type":"post","link":"https:\/\/icoholder.com\/blog\/india-cryptocurrency-regulation-draft-nears-completion\/","title":{"rendered":"India Cryptocurrency Regulation Draft Nears Completion"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_75 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/icoholder.com\/blog\/india-cryptocurrency-regulation-draft-nears-completion\/#India_Prepares_Crypto_Regulation_Draft\" >India Prepares Crypto Regulation Draft<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/icoholder.com\/blog\/india-cryptocurrency-regulation-draft-nears-completion\/#Committee_to_Review_Crypto_Guidelines\" >Committee to Review Crypto Guidelines<\/a><\/li><\/ul><\/nav><\/div>\n<p data-pm-slice=\"1 1 []\">There are reports that the Indian government will unveil a draft of cryptocurrency regulations before the year ends. This India cryptocurrency regulation draft comes amid India\u2019s hesitation to fully accept the crypto sector. According to a report by Quartz on Tuesday, a panel has been commissioned by the finance ministry of India to regulate the guidelines and norms for cryptocurrency trading in the country. In addition, its blockchain industry is prepared to reveal its planned draft next month.<\/p>\n<p>According to Quartz on Tuesday, a panel commissioned by the finance ministry is working on guidelines for cryptocurrency trading. The blockchain industry is also set to reveal its draft next month. This news appeared in a counter-affidavit filed by the government in a Supreme Court case. The case involves crypto exchanges challenging the central bank\u2019s ban from earlier this year. The affidavit states: \u201cSerious efforts are ongoing to prepare the draft report and bill on virtual currencies, distributed ledger technology, and a digital currency framework for India.\u201d<\/p>\n<h3 data-pm-slice=\"1 1 []\"><span class=\"ez-toc-section\" id=\"India_Prepares_Crypto_Regulation_Draft\"><\/span>India Prepares Crypto Regulation Draft<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p data-pm-slice=\"1 1 []\">The affidavit reveals that the draft report and bill will be handed to the ministry of finance&#8217;s inter-ministerial committee. After that, the committee will hold a meeting in December to discuss the draft\u2019s contents.<\/p>\n<p>The inter-governmental committee was formed by the finance ministry in early 2017. It was tasked with studying global regulatory and legal frameworks for virtual currencies. The committee\u2019s mandate includes proposing a regulatory framework for cryptocurrency use and trading in India.<\/p>\n<p>Besides the finance ministry, the committee includes the ministries of economic affairs, budget, and taxation, as well as representatives from the central bank.<\/p>\n<p>The panel is chaired by Subash Chandra Garg, secretary of the Department of Economic Affairs. It will reveal its regulatory approach while the government considers banning private cryptocurrency use in the country.<\/p>\n<h3 data-pm-slice=\"1 1 []\"><span class=\"ez-toc-section\" id=\"Committee_to_Review_Crypto_Guidelines\"><\/span>Committee to Review Crypto Guidelines<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The current ban by the central bank, which barred banks from offering services to <a href=\"https:\/\/icoholder.com\/blog\/ai-trading-tools-forecast-future-of-crypto-investments\/\">cryptocurrency exchanges<\/a>, has adversely affected the growth of the sector in India.<br \/>\nIn conclusion<\/p>\n<p data-pm-slice=\"1 1 []\">The government of India is currently planning regulations, norms, and guidelines for the country&#8217;s cryptocurrency sector. The India cryptocurrency regulation draft is expected to be revealed by a panel set up by the finance ministry next month. This surprising news comes at a time when India&#8217;s government is thinking of placing a ban on the usage of private cryptocurrencies in the country.<\/p>\n<p>To keep up with the latest developments in the crypto industry, subscribe to the ICOholder newsletter.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>There are reports that the Indian government will unveil a draft of cryptocurrency regulations before the year ends. This India cryptocurrency regulation draft comes amid &hellip; <\/p>\n","protected":false},"author":4,"featured_media":8213,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23],"tags":[],"class_list":["post-858","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>India Cryptocurrency Regulation Draft Nears Completion<\/title>\n<meta name=\"description\" content=\"India Cryptocurrency Regulation Draft expected soon as government plans new rules amid potential private crypto ban - IcoHolder.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/icoholder.com\/blog\/india-cryptocurrency-regulation-draft-nears-completion\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"India Cryptocurrency Regulation Draft Nears Completion\" \/>\n<meta property=\"og:description\" content=\"India Cryptocurrency Regulation Draft expected soon as government plans new rules amid potential private crypto ban - 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