{"id":4587,"date":"2022-05-31T20:39:47","date_gmt":"2022-05-31T20:39:47","guid":{"rendered":"https:\/\/fatburningcoffeetrick.com\/?p=4587"},"modified":"2022-05-31T20:39:48","modified_gmt":"2022-05-31T20:39:48","slug":"indian-government-finalizing-crypto-consultation-paper-we-are-looking-at-a-global-paradigm-on-digital-assets","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=4587","title":{"rendered":"Indian Government Finalizing Crypto Consultation Paper \u2014 &#8216;We Are Looking at a Global Paradigm on Digital Assets&#8217;"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<\/p>\n<p><strong>India\u2019s economic affairs secretary has reportedly revealed that the government\u2019s consultation paper on cryptocurrency is \u201cfairly ready.\u201d He explained that the Indian government is looking at \u201ca global paradigm on digital assets,\u201d emphasizing that \u201cThere has to be a broad framework on which all economies have to be together.\u201d<br \/><\/strong><\/p>\n<h2>Economic Affairs Secretary Ajay Seth on Crypto<\/h2>\n<p>Indian Economic Affairs Secretary Ajay Seth provided an update Monday on the government\u2019s progress to establish India\u2019s crypto policy.<\/p>\n<p>Speaking about the government\u2019s consultation paper on crypto, he was quoted by CNBC TV18 as saying:<\/p>\n<p>Our consultation paper is fairly ready and we went into a deep dive and have consulted not just the domestic institutional stakeholders but also the World Bank, and the International Monetary Fund.<\/p>\n<p>\u201cSo we hope that we will soon be in a position to finalize our consultation paper,\u201d the economic affairs secretary added.<\/p>\n<p>In April, Bitcoin.com News reported that Indian finance ministry officials discussed a crypto regulatory framework with various stakeholders, including the IMF, the World Bank, the Reserve Bank of India (RBI), and the Securities and Exchange Board of India (SEBI). The IMF noted a the time that crypto assets are high on the agenda for India.<\/p>\n<p>Seth also discussed \u201cdigital assets\u201d in a broader sense Monday. He described: \u201cWhatever way we want to deal with those assets, there has to be a broad framework on which all economies have to be together.\u201d<\/p>\n<p>The government official stressed: \u201cThis point has been made time and again. Even other countries are talking about the same thing. The IMF is also talking about the same thing, as is the U.S. treasury.\u201d He noted:<\/p>\n<p>We are looking at a \u2018global paradigm\u2019 on digital assets.<\/p>\n<p>Seth then brought up the need for a global consensus on cryptocurrencies. He affirmed that India will consider regulations enforced in other countries before establishing its own crypto policy, elaborating:<\/p>\n<p>For any country, if there\u2019s global consensus around the regulations, then again there has to be a broad framework of participation of countries.<\/p>\n<p>In April, Indian Finance Minister Nirmala Sitharaman said that the decision regarding the regulation of cryptocurrencies will not be rushed. \u201cIt has to take its time for all of us to be sure that at least, with the given available information, we are making a discerned decision,\u201d she detailed.<\/p>\n<p><em><strong>What do you think about the comments by Indian Economic Affairs Secretary Ajay Seth? Let us know in the comments section below.<\/strong><\/em><\/p>\n<p>Kevin Helms <\/p>\n<p class=\"article__body__author__info__about\">\nA student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.<\/p>\n<p><i class=\"td-icon-font td-icon-mail-1\"\/><\/p>\n<p class=\"images_credits\"><em>Image Credits: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n<p>More Popular NewsIn Case You Missed It<\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/news.bitcoin.com\/indian-government-finalizing-crypto-consultation-paper-we-are-looking-at-a-global-paradigm-on-digital-assets\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>India\u2019s economic affairs secretary has reportedly revealed that the government\u2019s consultation paper on cryptocurrency is \u201cfairly ready.\u201d He explained that the Indian government is looking at \u201ca global paradigm on digital assets,\u201d emphasizing that \u201cThere has to be a broad framework on which all economies have to be together.\u201d Economic Affairs Secretary Ajay Seth on [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4588,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[1],"tags":[],"class_list":["post-4587","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-updates"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/4587","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4587"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/4587\/revisions"}],"predecessor-version":[{"id":4589,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/4587\/revisions\/4589"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/4588"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4587"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4587"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4587"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}