According to a CoinTelegraph report, India is developing a crypto regulation framework that could lead to legal legislation in the next five to six months.
The framework is based on the joint recommendations of the International Monetary Fund (IMF) and the Financial Stability Board (FSB), which India and other G20 countries have endorsed.
The framework has five main points and aims to align with the global approach on crypto issues such as taxation.
The IMF–FSB recommendations are a set of guidelines and suggestions for regulating the crypto market instead of banning it.
They were presented at the recent G20 summit, where India made several key economic announcements.
CoinTelegraph contacted Crebaco, a blockchain analytic firm that consulted with several G20 committees and nations, to learn more about India’s crypto strategy.
Crebaco said that based on their meetings with government officials, India is working on a crypto regulation framework that follows the IMF–FSB recommendations and focuses on global collaboration.
