India Ready To Unveil Cryptocurrency Law Next Month

The government of India may provide clarity on cryptocurrency regulation as soon as next month with a new draft bill now in the works.

CLARITY SOON

Citing a counter-affidavit issued by India’s Prime Minister Narendra Modi, Quartz reports that the country’s government is likely to provide some clarity on the matter of cryptocurrencies sometime in the next two months.

The governmental panel working on the issue is reportedly headed by Subhash Chandra Garg – a top civil servant who is currently the secretary in the department of economic affairs.

Reserve Bank of India

Purportedly, the panel is spending efforts on the preparation on a draft report and bill on cryptocurrencies, which will be circulated to the members of the inter-ministerial committee (IMC), after which further meetings will be held in December and in January. The counter-affidavit reads:

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