12/2/2021, 8:28 PM (Source: TeleTrader)
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India's government to regulate crypto, not ban it - report

The Indian government is looking to put cryptocurrencies under a regulatory framework and not ban their use, according to a report published by Mint on Thursday.

People familiar with the matter told the newspaper that cryptocurrency will be regulated as crypto-assets and overwatched by the Securities and Exchange Board of India (Sebi).

"Categorizing crypto as an asset will ensure that there is no overlap between the digital currency that will be launched by the Reserve Bank of India (RBI) and crypto. All crypto exchanges will come under Sebi's regulatory ambit," one of the interviewed officials explained.

Baha Breaking the News (BBN) / ND