The Biggest Ever News In Crypto From India

With 3 years of Indian administration's aversion, ban and uncertainties for the future of cryptocurrencies; today we've started to see a gradual U-turn. For the first time ever we have received very positive vibes from the Government about cryptocurrencies.

No, it's not from any anonymous sources that could be termed as some rumour, it's directly from the country's Finance Minister herself.

It's probably the first time we have heard the use of exact terms like crypto and cryptocurrencies. Officially, it was always mentioned as Virtual Currencies or digital currencies.

In an interview to CNBC TV18, India's Finance Minister shortly discussed about the India's stance on cryptocurrencies.

India has always led the world in Fintech and payment settlement systems. FM referred to it and added that India can't be left behind and we would like to partake in innovations in this field.

She pointed towards regulatory route by stating the following:

There will be a very calibrated position taken. A lot of mixed messages are coming from across the world. World is moving fast with technology, we cannot pretend that we don't want it.

A lot of negotiations and discussions are happening around the cryptocurrency with the Reserve Bank of India. RBI will be taking a call on what kind of unofficial cryptocurrency will have to be planned and how it has to be regulated. However we want to make sure that there is a window available for all kinds of experiments which will have to take place in the crypto world.

You can watch the whole clip here.

She also told that cabinet has not yet made any decision on it and only after it decides, things will move further in some direction.

I wonder how without cabinet taking any call on it, the Bill was listed for discussion in the Parliament.

But FM has stated it very clearly. They are just being cautious and trying to take calibrated approach.

But the optimism in the crypto sphere comes from her words:

So, we are not closing our minds, we are certainly looking at ways in which experimentations can happen in the digital world, cryptocurrency and so on.

It's very evident that there is no chance or consideration of a blanket ban on crypto in India.

Let's see how the things turn up from here. Hopefully, we can expect some positive regulations.

After all, something is always better than nothing!