Consultation paper on digital assets may not lead to cryptocurrency policy

The government has also raised concern over complying with Financial Action Task Force (FATF) guidelines and discussed it with other countries, according to an official

India is unlikely to take a call to either ban or legalise crypto currencies in the near future and would rather wait for global consensus to emerge, according to a senior official.  

“We don't see much action on that (crypto). We will see a consultation paper but nothing beyond that. I think the government strategy now is to await global moves rather than take a big step in any direction,” the official told Business Standard.

Economic Affairs Secretary Ajay Seth said on Monday that the consultation paper on virtual digital assets prepared after wide deliberation with domestic as well as