India’s Finance Minister Nirmala Sitharaman gives a clue about upcoming Cryptocurrency regulation in India.

During an interview given to CNBC TV18, the Finance Minister speaks as under:

On the Cryptocurrency, yes a lot of negotiations/discussions are happening with the Reserve bank because the Supreme Court order had very clearly told that Govt. has to take a call on the matter. We are taking with the Reserve Bank.

Well, I am not sure, much before the cabinet takes a call on it, I want to give you any clues about what is in it. Obviously, the Reserve Bank will be taking a call on how, what kind of an official currency/ cryptocurrency will have to be planned and how it has to be regulated, but also we want to make sure that there is window available for all kind of experiments which will have to take place in the crypto world.

And therefore, its not as if we are going to look inwards and say no “we are not, you know, going to have any of this”. There will be a very calibrated position taken. A lot of mixed messages are coming from across the world. I don’t think there is either complete go this way or complete go that way in this matter. We will have to take very calibrated position. World is moving fast with tech, we cant pretend that we don’t want it. At the same time, we also recognize that in fintech, we led the way.

Many countries are looking at us for fintech, kind of, based steps and the kind of things we have done in payment “Duniya”. So I would think, I can only give you this clue that we are not closing our minds. We are certainly looking at the ways in which experimentations can happen in the digital world and Cryptocurrency and so on.

Link to video: https://twitter.com/CNBCTV18News/status/1367810414679977987?s=20