Finance ministry working on consultation paper to deal with cryptoassets

RBI has publicly expressed strong reservations against permitting cryptocurrencies

The finance ministry is working on a consultation paper to devise a domestic regulatory framework on how to deal with cryptoassets and may invite public comments on it in six months’ time.

“At present, we are engaged in consultation with institutions like the International Monetary Fund (IMF), World Bank, and the Financial Stability Board (FSB). While a global consensus on the issue may take time, we are working on a consultation paper on cryptoassets to formulate our own views on the matter. We will release it for public consultation in about six months’ time,” said a finance ministry official.

While the government