Government officials are expected to convene an official meeting today to explore the role of cryptocurrencies in India, according to sources. The officials will meet with the industry’s leading crypto players, including crypto exchanges such as WazirX, CoinDCX, CoinSwitch Kuber, and others.
The meeting, which was initially hinted at last week, is expected to be India’s first official engagement between government officials and cryptocurrency stakeholders. Players in the crypto business had been in informal talks with government officials prior to this, but the Indian government has yet to take a clear stance on the use of cryptocurrencies in the nation.
Today's Committee #MeetingAlert #ParliamentaryCommitee#DRSC #Finance #LokSabha #Parliament pic.twitter.com/2punLUFUIH
— LOK SABHA (@LokSabhaSectt) November 15, 2021
According to reports, the Lok Sabha, or lower house of parliament, will hold a meeting on the issue of “Hearing of the views of associations and industry experts on the subject of ‘CryptoFinance’: Opportunities and Challenges.” The Parliamentary Standing Committee on Finance will host the event.
Representatives from the India Internet and Mobile Association (IAMAI) Blockchain and Crypto Assets Council (BACC), which includes the top crypto exchanges in India, would most likely attend the meeting.
For the first time in India, the summit is expected to pave the door for formal recognition of cryptocurrencies. It will come before the cryptocurrency bill, which is rumored to be in the works and is expected to be presented to the government later this month during Parliament’s Winter Session.
