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Rebranding and restructuring efforts couldn't save the Diem stablecoin which faced staunch opposition right from the start.
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Rebranding and restructuring efforts couldn't save the Diem stablecoin which faced staunch opposition right from the start.
The lack of norms makes it difficult to judge the legality of crypto transfers abroad, lawyers speaking to MediaNama noted.
The Russian central bank took stock of the trends, risks, and global regulations around crypto to arrive at the proposal.
In the past, the Prime Minister has similarly appealed for global efforts on preventing the misuse of cryptocurrencies.
The government continues to hold deliberations while India's unregulated, burgeoning crypto industry watches closely.
While the market reality of popular crypto-assets like Bitcoin may undergo little change, the same can't be said for stablecoins.
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.