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Government mulls over giving deadline to declare crypto assets: Report
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The Central government is considering to give Indian cryptocurrency holders a deadline in order to declare assets and become compliant with forthcoming new rules, according to a Bloomberg report that cited people familiar with the matter. Notably, SEBI (Securities and Exchange Board of India) will reportedly be roped in to oversee and regulate cryptocurrencies, given that it can potentially be classified as a financial asset.
According to a recently circulated cabinet note, the term 'crypto assets' will be put in place instead of cryptocurrencies, along with a clear distinguishment of the same from the digital currency plans (Central Bank Digital Currency, or CBDC) that the government and RBI intend to pilot early next year.
Bloomberg also
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