There is a lot of discussion going on with different stakeholders including the World Bank and the International Monetary Fund and the government would soon come out with a consultation paper on cryptocurrencies, Ajay Seth, Secretary, Department of Economic Affairs, said on Monday.
Talking to reporters on the sidelines of an event here, Seth said the consultation paper on cryptocurrency is fairly ready.
He said the institutional stakeholders like the IMF and the World Bank have been consulted for the cryptocurrency consultation paper.
"Consultation paper is fairly ready. We have gone through deep dive, consulted not just domestic stakeholders but also organisations like IMF, World Bank. We hope we'll soon be in a position to finalise the consultation paper," he said.
Seth said there has to be a broad framework of participation of all countries (global consensus) on the regulation of cryptocurrency.
Simultaneously we are also beginning our work for global regulations as well, whatever we do even countries that have gone to the extent to even prohibited that can't succeed unless there is global consensus around that. We have consulted them and we hope we will soon be in a position to finalise our consultation paper, he said.
( With inputs from ANI )
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