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India’s finance minister waiting for consultations to decide whether to ban or regulate crypto

Published 02/11/2022, 03:20 PM
Updated 02/11/2022, 05:00 PM

Yet another statement by a top Indian official suggests that regulatory uncertainty around the status of digital assets in the country will persist in the near term.

Responding to the general discussion of the 2022–23 Union Budget at Rajya Sabha, the upper chamber of India’s bicameral parliament, finance minister Nirmala Sitharaman stated that she was not going to “legalize or ban” cryptocurrency at this moment. The minister added that “Banning or not banning will come subsequently,” when the ministry reviews input from consultations.

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