The Indian parliament held its first meeting on the future of cryptocurrencies in the country on Monday. The meeting was attended by representatives of crypto exchanges including Binance-owned WazirX, India’s two crypto unicorns CoinDCX and CoinSwitch Kuber, and others.
Blockchain and Crypto Assets Council (BACC) members, industry bodies and stakeholders also participated in the meeting, chaired by the leader of the ruling party, Jayant Sinha. The meeting was hosted by the Parliamentary Standing Committee on Finance. While crypto industry stakeholders have been in dialogue with the government for the past several months, this was the first official meeting convened to discuss their views.
At the end of the meeting, a consensus was reached that cryptocurrencies should be regulated in the country and that a blanket ban is off the table. However, it is not yet clear who the regulator should be for the crypto market.