To ban or regulate? Govt’s cryptocurrency paper likely by October 2024

A much-anticipated consultation paper on cryptocurrency (crypto) is expected to be released by September or October this year, according to a senior finance ministry official. The paper will seek to determine whether to ban or legalise crypto.

“The consultation paper will gather input from various stakeholders, including the Department of Revenue, the Financial Intelligence Unit (FIU) — India, and global bodies. It is expected to be released by September or October,” said a senior government official.