India can allow the use of crypto tokens for certain financial transactions

Verified
3 months ago
0

The Indian government is considering using crypto tokens for a limited range of financial transactions.

In particular, Inter Ministerial Committee (IMC) is working on the relevant regulatory framework. The possibility of using crypto tokens to pay for some services of enterprises in the public and private sectors is being considered.

IMC was created in April last year. It consists of representatives of local tax authorities, the Department of Economic Affairs, the Central Bank and other departments. The structure was created exclusively for the study of the status of foreign currencies and local ones, studying international experience in regulating digital assets, as well as measures to combat money laundering.