Despite tightening measures against money laundering and terror financing, India has no immediate plans to regulate cryptocurrency transactions.
The Indian government revealed no immediate plans to regulate the sales and purchase of cryptocurrencies as it continues to tighten oversight on crypto-related money laundering and terror financing.
During a parliamentary meeting on Aug. 5, Pankaj Chaudhary, the Minister of State in India’s Ministry of Finance, responded to several questions detailing the nation’s current stance on crypto regulations.
Chaudhary said that India has not conducted any study or research to understand the adoption level of cryptocurrencies among its citizens. He responded by saying that:
