Indian government will complete cryptography law project
The government of India submitted an affidavit before the country's supreme court detailing its progress with respect to the cryptocurrency rules
According to various reports, the Indian government is making serious efforts to prepare the draft of the cryptography bill. It is expected that both the project and the law will be discussed by the interministerial committee next month.
The Supreme Court of India has been trying to listen to petitions against the ban of cryptographic banks by the Central Bank and the Reserve Bank of India (RBI).
It is expected that the draft report will be presented to the interministerial committee and both the draft report and the bill will be distributed among the members and discussed at the next meeting.
The Central Bank issued a circular in April that prohibited financial institutions, under its control, from providing services to cryptographic companies. The ban came into effect in July and several petitions have been filed to cancel the ban.
While everything is normalized, banks have closed the accounts of cryptographic exchanges, which forces them to create their own solutions to provide fiduciary assistance to customers.
L.Sáenz
Source: Infocoin
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