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India is expected to publish a long-awaited Crypto Discussion Paper by July, spearheaded by the Department of Economic Affairs and aligned with G20 and U.S. frameworks.
This initial draft will spotlight stablecoin integration—particularly U.S. dollar‑linked tokens like USDT—and their potential to revolutionize remittances, while maintaining a neutral stance pending public and multi‑regulator feedback.
According to sources on X, the paper is “backed by U.S. & G20 frameworks” and may introduce “unique norms for Bitcoin and stablecoins” aimed at modernizing India’s digital asset ecosystem.
Insiders emphasize this will be the first of multiple iterations—intended to stimulate consultation across ministries, the Reserve Bank of India, SEBI, exchanges, fintechs, and the public—rather than imposing immediate regulation.
The discussion paper arrives amid global momentum: the U.S. Senate recently greenlit stablecoin oversight, while under India’s 2023 G20 leadership, it endorsed the IMF–FSB roadmap for crypto governance.
India will leverage these international precedents—while considering its own $130 billion annual remittance flow—and weigh how stablecoin adoption could reduce transfer costs by up to 90%.
Join the free memecoin discord in my bio for alpha
#crypto #bitcoin #btc #cryptocurrency #cryptonews
This initial draft will spotlight stablecoin integration—particularly U.S. dollar‑linked tokens like USDT—and their potential to revolutionize remittances, while maintaining a neutral stance pending public and multi‑regulator feedback.
According to sources on X, the paper is “backed by U.S. & G20 frameworks” and may introduce “unique norms for Bitcoin and stablecoins” aimed at modernizing India’s digital asset ecosystem.
Insiders emphasize this will be the first of multiple iterations—intended to stimulate consultation across ministries, the Reserve Bank of India, SEBI, exchanges, fintechs, and the public—rather than imposing immediate regulation.
The discussion paper arrives amid global momentum: the U.S. Senate recently greenlit stablecoin oversight, while under India’s 2023 G20 leadership, it endorsed the IMF–FSB roadmap for crypto governance.
India will leverage these international precedents—while considering its own $130 billion annual remittance flow—and weigh how stablecoin adoption could reduce transfer costs by up to 90%.
Join the free memecoin discord in my bio for alpha
#crypto #bitcoin #btc #cryptocurrency #cryptonews
India is expected to publish a long-awaited Crypto Discussion Paper by July, spearheaded by the Department of Economic Affairs and aligned with G20 and U.S. frameworks.
This initial draft will spotlight stablecoin integration—particularly U.S. dollar‑linked tokens like USDT—and their potential to revolutionize remittances, while maintaining a neutral stance pending public and multi‑regulator feedback.
According to sources on X, the paper is “backed by U.S. & G20 frameworks” and may introduce “unique norms for Bitcoin and stablecoins” aimed at modernizing India’s digital asset ecosystem.
Insiders emphasize this will be the first of multiple iterations—intended to stimulate consultation across ministries, the Reserve Bank of India, SEBI, exchanges, fintechs, and the public—rather than imposing immediate regulation.
The discussion paper arrives amid global momentum: the U.S. Senate recently greenlit stablecoin oversight, while under India’s 2023 G20 leadership, it endorsed the IMF–FSB roadmap for crypto governance.
India will leverage these international precedents—while considering its own $130 billion annual remittance flow—and weigh how stablecoin adoption could reduce transfer costs by up to 90%.
Join the free memecoin discord in my bio for alpha 📲
#crypto #bitcoin #btc #cryptocurrency #cryptonews
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