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The government had taken issue with promises of wild profits made by crypto ads that will now have to carry disclaimers.
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Summary: US proposes new regulatory body to oversee “powerful” tech sector
The government had taken issue with promises of wild profits made by crypto ads that will now have to carry disclaimers.
Bringing transactions related to crypto-assets within the tax net could make matters less fuzzy.
Loopholes in FEMA and the decentralised nature of crypto-assets point to a need for effective regulations.
The framework is proposed at a time when countries like India are pondering over how crypto can be regulated.
India's central bank has two types of CBDCs in the works, and the government is preparing a legal framework for them.
The cryptocurrency wallet also said that it has embedded controls that enable 24/7 monitoring to detect and flag "suspicious" activity.
More robust, efficient, trusted, regulated and legal tender-based payments option is one among the many benefits of CBDC according to Finance Ministry.
This development comes 8 months after MediaNama reported how private banks shut off its banking services to crypto exchanges
The social media giant has expanded the number of regulatory licenses it accepts from 3 to 27; read the full list.
The revised guidelines are expected to temper the tone of wild profits in commercials about cryptocurrencies.
