India is about to regulate cryptocurrencies: the government is drafting a consultation paper and consulting interested parties.

Finance Minister Nirmala Sitharaman, in October 2023, said that the G20 nations have adopted a unified approach to regulating cryptocurrencies.

A consultation document on cryptocurrencies will be released by a panel chaired by the Secretary of the Department of Economic Affairs (DEA), and it is anticipated to be published in September or October, according to sources.

The government of India is actively involved in determining the direction that digital currencies will take in the country, as evidenced by this paper that seeks input from stakeholders on how to regulate crypto assets.

October 2023 saw the Finance Minister, Nirmala Sitharaman, declare that the G20 countries have united in their stance to cryptocurrency regulation.

Since everyone is now in agreement on the global scale on the possibility of regulations, nation-specific legislative procedures will also need to be worked out.

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