RBI Rejects Crypto Legal Status at India’s 7th Parliamentary Meeting
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India’s Parliamentary Standing Committee on Finance held its 7th meeting on virtual digital assets with RBI and ICAI representatives, marking the RBI’s first testimony and Chairman Bhartruhari Mahtab saying the RBI did not recommend granting cryptocurrencies legal status. Despite a 30% crypto tax and ongoing review of global VDA models, the RBI’s cautious stance signals regulatory headwinds for crypto adoption, DeFi, token launches and market development in India.
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- India’s Parliamentary Finance Committee holds its 7th meeting on VDAs with RBI and ICAI representatives.
- Chairman Bhartruhari Mahtab says RBI did not recommend granting cryptocurrencies legal status in India.
- Despite a 30% crypto tax, RBI maintains its cautious stance as India continues to review global VDA models.
India’s Parliamentary Standing Committee on Finance, chaired by Bhartruhari Mahtab, held its 7th meeting on virtual digital assets (VDAs) today with representatives from the Reserve Bank of India (RBI) and the Institute of Chartered Accountants of India (ICAI). This marked RBI’s first testimony before the panel on crypto-related issues.
RBI Firmly Opposes Crypto Legal Status In India
India’s Parliamentary Standing Committee on Finance held its 7th meeting on VDAs, consulting from RBI and ICAI representatives. Chairman Mahtab stated that the RBI did …
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