There seems to be a beacon of hope for the Indian crypto space which was in a quandary phase for quite a long time. According to the latest development, the Indian government has called upon lawyers of the firm Nishith Desai Associates to put forward suggestions for accommodating for Bitcoin and cryptocurrency regulations in India.
This move comes shortly after the lawyers representing Internet and Mobile Association of India [IAMAI] filed an appeal to the Supreme Court against the circular by the Reserve Bank of India [RBI] that called for a ban on all kinds of financial dealings and involvement with the digital asset.
The document was put forward by three lawyers of the firm constituting recommendations for structuring the cryptocurrency regulations. Lawyer Jaideep Reddy, representing IAMAI, and one of the writers of the framework that proposed regulations, to a news outlet, said:
“Our submission was responded to by the Finance Ministry which was kind enough to invite us to…
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