Indian authorities weighing how to regulate cryptocurrencies by shaifullah

blog · @shaifullah · Jan 4 '18

$0.29

Indian authorities weighing how to regulate cryptocurrencies

The Securities and Exchange Board of India (SEBI), plus officials from the Ministry of Finance, Ministry of Electronics and Information Technology and the Reserve Bank of India (RBI), are on a panel tasked with determining the legal oversight for cryptocurrencies such as bitcoin, Chairman Ajay Tyagi said.

“There has to be a process or law, only then can you take action,” Tyagi told reporters on the sidelines of a Confederation of Indian Industry conference in Mumbai.

India currently has no regulation for cryptocurrencies, and like other global policymakers, it is seeking to understand how to supervise a market that many feel is a speculative bubble.

Earlier this month, the RBI said it was concerned about bitcoin. India’s central tax authority is also surveying bitcoin exchanges to find out whether it can tax any transactions.![SEBI-chief.jpg](https://steemitimages.com/DQmWfe8F5VWQf2uEmC5Ndd4kLacPdxKCchQPgddAW2Q74KW/SEBI-chief.jpg)

👍 minnowsupport, gomeravibz, steemprentice, stephen.king989, gamerveda, john-with-a-fon, shaifullah, jhermanbeans, pomperipossa, looftee, gindor, banjo, cryptohustler, myday, dickturpin, numpypython, decibel, edrivegom, qwasert, fonsetucker, nesbitt, swagger, dirty.hera, siihaabuur

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@minnowsupport · Jan 4 '18

<p>Congratulations!  This post has been upvoted from the communal account, @minnowsupport, by shaifullah from the Minnow Support Project.  It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews/crimsonclad, and netuoso.  The goal is to help Steemit grow by supporting Minnows and creating a social network.  Please find us in the <a href="https://discord.gg/HYj4yvw">Peace, Abundance, and Liberty Network (PALnet) Discord Channel</a>.  It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.</p>

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👍 shaifullah

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@shaifullah · Jan 4 '18

..

👍 shaifullah

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@shaifullah · Jan 4 '18

😎

👍 shaifullah

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