{"id":42780,"date":"2021-05-19T14:50:01","date_gmt":"2021-05-19T11:50:01","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=42780"},"modified":"2025-08-31T00:45:37","modified_gmt":"2025-08-30T21:45:37","slug":"media-india-to-study-regulating-bitcoin-as-a-digital-asset","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/media-india-to-study-regulating-bitcoin-as-a-digital-asset\/","title":{"rendered":"Media: India to study regulating Bitcoin as a digital asset"},"content":{"rendered":"<p>The Indian government will discuss creating a committee to study the regulation of cryptocurrencies as digital assets. <a href=\"https:\/\/economictimes.indiatimes.com\/tech\/technology\/govt-may-set-up-new-panel-to-study-crypto-regulations\/articleshow\/82746324.cms\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">The Economic Times<\/a> (ET) reports, citing informed sources.<\/p>\n<p>The committee will also consider various use cases for blockchain. The initiative is at an early stage of discussion; no official decision has yet been made.<\/p>\n<p>In 2019, a government-formed working group concluded that the underlying value of the new financial instruments was &#8216;no value&#8217;, and recommended banning them. According to the publication&#8217;s source, some officials consider those findings outdated.<\/p>\n<p>According to ET, the Indian Finance Ministry is monitoring the growing turnover of cryptocurrencies in the country and is discussing potential regulatory risks with stakeholders.<\/p>\n<p>A Union Minister of State for Finance, Anurag Thakur, may join the committee. It is reported that he had previously discussed the matter with representatives of the banking and cryptocurrency sectors.<\/p>\n<p>Since April 2021, Indian companies are required <a href=\"https:\/\/u1f987.com\/en\/news\/india-requires-companies-to-disclose-cryptocurrency-assets\">to report on transactions involving digital assets<\/a>, including volumes, as well as advances and deposits &#8216;from any persons&#8217;.<\/p>\n<p>According to the media, the local Parliament considered <a href=\"https:\/\/u1f987.com\/en\/news\/indian-parliament-to-consider-bill-banning-cryptocurrencies\">a bill to ban cryptocurrencies<\/a> during the recent budget session.<\/p>\n<p>In February, Bloomberg reported that if a ban is introduced, holders would have <a href=\"https:\/\/u1f987.com\/en\/news\/bloomberg-india-to-allow-cryptocurrency-holders-to-close-positions-ahead-of-ban\">three to six months<\/a> to close their positions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Indian government will discuss creating a committee to study the regulation of cryptocurrencies as digital assets.<\/p>\n","protected":false},"author":1,"featured_media":42781,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[278,36],"class_list":["post-42780","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-india","tag-regulation"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/42780","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=42780"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/42780\/revisions"}],"predecessor-version":[{"id":42782,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/42780\/revisions\/42782"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/42781"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=42780"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=42780"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=42780"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}