The Indian government will meet to discuss the regulatory framework of Bitcoin and other digital currencies next week, according to a local publication. Bitcoin.com talked with India’s leading bitcoin exchanges to find out what to really expect from the meeting.Government Working on Bitcoin Framework Next Week
According to Dna, India’s English broadcast daily owned by Diligent Media Corporation, the Indian government is expected to make a decision about the regulatory framework of bitcoin and other cryptocurrencies next week. However, no additional detail about the framework or the decision was given. “The issue of whether virtual currencies or bitcoins should be banned, regulated or self-regulated has been deliberated for some time,” the publication wrote.
In order to further deliberate on the framework of cryptocurrencies in the country, the finance ministry has called for a meeting of all key officials. The meeting was supposed to take place on Monday but has been postponed to next week. It will be attended by Niti Aayog vice chairman Arvind Panagariya, Reserve Bank of India (RBI) governor Urijit Patel, Securities and Exchange Board of India chairman Ajay Tyagi and other key officials, Dna reported.
What to Really Expect Next Week
Indian Government to Recommend Bitcoin Regulatory Framework Within 6 MonthsIn April, the government formed a committee to investigate Bitcoin and expects its report next month. The committee is also tasked with assessing the existing legal and regulatory framework of digital currencies in India as well as globally.
Last month the government sought public comments on the Mygov website about whether digital currencies should be regulated. The deadline for the comments was on May 30. However, some continued to roll in even after the deadline. A total of 3,889 comments are showing on the website at press time.
More on subject -
https://news.bitcoin.com/indian-government-to-recommend-bitcoin-regulatory-framework-within-6-months/
