Economic Affairs Secretary Ajay Seth said on February 4 that regulations around crypto assets would be brought in this year.
The Budget, presented on February 1, was silent on regulating crypto assets even though Indian are increasingly investing in crypto currency and non-fungible tokens (NFTs).
"The technology of crypto assets like blockchain and others can be used but its use in the financial sector can have several risks. In the course of this year, measures around crypto would be brought out," said Seth at a post-budget press conference in Mumbai.
"In India, nobody is talking about using crypto as a currency. The risks are with using it as a token," he said.
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