INSUBCONTINENT EXCLUSIVE:
RBI will regulate issues related to cryptocurrency
The proposed cryptocurrency bill
has suggested regulation of private cryptocurrency rather than banning it, according to a Cabinet note circulated by the government
Crypto is not recognised as legal currency in India yet, as per the note
The note suggests that Cryptocurrency is not recognised as legal currency in the country
crypto exchange platforms which will be regulated by the Securities and Exchange Board of India (SEBI)
However, the central bank will regulate issues related to cryptocurrency.All those found violating the exchange provisions will be penalised
with a criminal imprisonment of upto one and a half years
