A senior government official told Reuters on Sunday that India was examining its stance on crypto currencies because of changing attitudes to virtual assets in other countries.

The review, which is after US President Donald Trump’s crypto -friendly policy announcements, could further delay the publication of a debate article about crypto currencies, which was set to release in September 2024.

“One or more circle options have changed their position on cryptocurrency in terms of use, their acceptance, where do they see the importance of crypto assets? Taking a look at. ” Economic Affairs Secretary Ajay Seth said in an interview.

Seth said that since such assets “do not believe in borders”, India’s position cannot be one -sided.

He did not specifically mention the United States, where Trump ordered the establishment of a cryptocurrency working group last week, suggesting new digital assets rules and seeking the formation of national cryptocurrency storage. There was a good deal to restore the American crypto policy.

In recent years, Indians have raised money in crypto currencies despite the country’s rigorous regulatory stance and steep trade taxes.

India’s Financial Intelligence Unit (FIU) issued show cause notices to the new offshore cryptocurrency exchange in December 2023 to comply with local rules.

The world’s largest crypto exchange, Binnus, in June 2024, was subjected to a fine of Rs. 188.2 million (Rs. 25 2.25 million or about 19.5 crore), which registered with the FIU in an attempt to resume work in the country A month later.

Last year, India’s Market Watchdog recommended that several regulators oversee trade in crypto currencies, indicating that at least some officials in the country are open to allowing private virtual assets to be used –

This status stands contrary to the state’s central bank statements, which maintains that private digital currencies have represented the economic threat.

© Thomson Writers 2025

(This story has not been edited by the NDTV staff and has been made auto from the Syndicate Fed.)

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