Budget 2018 was clearly an esteemed expectation for the Digital Currency Industry. A more transparent policy and a standard explanation is what the companies are seeking for. After Arun Jeitley’s stance on taking measures to eliminate the illegal use of cryptocurrencies, Ajay Tyagi, Chairman of SEBI, confirmed reporters of New Indian Express, that new regulations are expected to be out soon.
The SEBI Chairman uncovered the fact that next day, Department of Economic Affairs (DEA) was inquired to report to a meeting regarding the final prospect of cryptocurrencies. Ajay Tyagi disclosed, ‘The responsibilities of different regulators regarding cryptocurrencies have been decided already.’Tyagi also made definite assertions that the agency will be fully cooperative regarding the assured aspects.
The chief of India’s Blockchain and Cryptocurrency Committee (BACC), Ajeet Khurana recently stated that the mentioning of Cryptocurrencies in the Budget is rather delightful and pleasant . He also reassured the perfect logic behind Jaitley’s stance on barring Cryptocurrencies but also made it clear that it doesn’t necessarily mean that the Crypto trading is illegal. According to him, awareness and a better understanding of one’s own security and privacy is an undeniable necessity, when it comes to trading in the Crypto Industry.
Sandeep Goenka, co-founder of Zebpay strongly keeps faith in the present Government’s open mindedness. For him a proper banking channel is the best possibility to add strength and flexibility to the Industry and legalize the sector.
The Indian crypto sector has turned too large a community to face any failure now. That is the hit and take away of it all.