- India’s VDA regulation balances innovation with investor protection and stability.
- Global collaboration is crucial for managing borderless crypto assets effectively.
- Stakeholder consultations are shaping India’s cautious approach to VDA regulation.
India has shown serious intent to develop a regulatory framework for virtual digital assets (VDAs); otherwise, cryptocurrency. The move comes in the backdrop of the surging popularity of crypto assets and their potential impact on the financial system. The government is aiming to strike a balance between innovation, protecting investors, and safeguarding the nation’s economic stability.
Recognizing the global appeal of VDAs, India is advocating for international collaboration to establish effective regulations and prevent regulatory arbitrage. This effort is being shaped by both domestic considerations and global regulatory trends.
BREAKING:
Crypto regulation discussed in parliament:
1⃣ Comprehensive Framework: The government is working on a regulatory framework for VDAs but emphasizes the need for international collaboration to address their borderless nature and avoid regulatory arbitrage. pic.twitter.co…
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