NEW DELHI: The recent raids on a crypto exchange and allegations of opaqueness around its shareholding and failure to do a KYC check is seen to be the latest blow to the efforts by market players to get a legislative framework.
With the collapse in cryptocurrency prices over the last few months, the strength of the "asset" had already come under the scanner, especially when agencies such as the Reserve Bank of India, and even a section of the finance ministry, had raised doubts over their sustainability in the long term.
With the house divided, the government had opted to put off an immediate decision last winter with Prime Minister Narendra Modi and finance minister Nirmala Sitharaman calling for global cooperation, arguing that steps taken by one country alone could not be sufficient to regulate it. In any case the exchanges were forced to go slow after Sitharaman brought it under the tax net and also introduced TDS in the last Budget, although a ban or regulation was still being...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...