India reconsiders cryptocurrency rules, influenced by global shifts and U.S. policies.

India is reconsidering its cryptocurrency regulations due to global changes, following the US's recent crypto-friendly policies. Economic Affairs Secretary Ajay Seth noted that India's stance cannot be isolated as cryptocurrencies "don't believe in borders." This review may delay the release of a discussion paper on cryptocurrencies, initially planned for September 2024. Despite strict regulations and high trading taxes, Indians have continued to invest in cryptocurrencies. The RBI is also exploring a Central Bank Digital Currency.

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