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Indian trade group recommends ‘special class security’ status for crypto
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The Confederation of Indian Industries (CII), a non-government trade association and advocacy group, has proposed to treat cryptocurrencies as securities of a special class.
The trade association released a report titled “Cryptocurrencies, Crypto Tokens/Assets & Regulations: The Way Forward” where it advocates for regulating the crypto market instead of outlawing it, reported Business Line. The report highlighted substantial technological innovation that the core technology of blockchain can bring in the payment and remittance sector.
The report proposes to formulate new regulations around the nascent crypto market instead of regulating them under existing securities law.
“A new set of regulations appropriate to the context of crypto/digital
Read more on cointelegraph.comAbout this in other media
Reserve Bank Of India (RBI) Central Board Discusses Cryptocurrencies, Internal Members Not In Favor ndtv.com /2 years ago
Indian PM calls for cryptocurrencies to 'empower' democracy at global summit cointelegraph.com /2 years ago
Allowing cryptocurrency may erode central bank's control over money supply: Former RBI Guv economictimes.indiatimes.com /2 years ago
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