Indian Crypto Bill: Exchange CEO Discusses What to Expect

There are reports that the Indian government may impose restrictions on self-custodial cryptocurrency wallets and only allow Indian crypto exchanges. The CEO of a major cryptocurrency exchange in India has shared his thoughts on the possible restrictions. The Indian government has listed a cryptocurrency bill to be taken up in the current session of parliament.

Possible Restrictions in Indian Crypto Regulation
A cryptocurrency bill is waiting to be heard in the current session of parliament in India. The country’s finance minister, Nirmala Sitharaman, has confirmed that the bill needed to be reworked from its original version that seeks to ban cryptocurrencies, including bitcoin in ether. However, she still has not revealed what’s actually in the bill, leading to much speculation.

The CEO of local cryptocurrency exchange Wazirx discussed some of the speculations in a series of tweets Friday.
The Indian government has listed a cryptocurrency bill to be taken up in the winter session of parliament. This week, the country’s finance minister answered some questions about cryptocurrency legislation that’s been proposed by the government. Reports then emerged that a cabinet note reportedly suggests that the government is not planning to ban crypto but to regulate crypto assets instead.

Do you think India will allow self-custodial crypto wallets? Let us know in the comments section below.