Media: India wants to ban digital asset trading

The Indian authorities are developing a regulation that will prohibit transactions with digital assets, writes the Money Control edition.

It is noted that already now specialists of various structures are interacting with each other to create a document that, at the legislative level, will prohibit operations with cryptocurrencies in the country. In particular, representatives of the Central Bank of India and the Ministry of Justice, Information and Technology will make their proposals.

“After discussion with the departments, we will send the document to the Cabinet of Ministers,” one of the officials told Money Control, expressing hope that the local parliament would approve it after consideration.

Recall that the country’s authorities continue to show an unfriendly attitude towards digital assets. Back in 2018, the Reserve Bank of India (RBI) imposed a ban on cooperation between credit institutions and cryptocurrency companies, but this spring this decision was canceled by the national central bank.