The Indian government has for far not imposed curbs on the crypto assets industry estimated to be adding 200,000 users in India every month. Photo: BloombergNew Delhi: India is planning steps to ensure cryptocurrencies are illegal within its payments system, while at the same time appointing a regulator to oversee unregulated exchanges that trade in “crypto assets,” a finance ministry official said on Monday. But it has not so far imposed curbs on an industry estimated to be adding 200,000 users in India every month. Ajeet Khurana, president of Block Chain and Cryptocurrency Committee, an industry body, said the decision to regulate crypto exchanges was good news. Nishith Desai, head at Zebpay, India’s largest bitcoin exchange, said the exchanges would cooperate with the government in framing the regulations.

Source: Mint February 05, 2018 12:45 UTC