India works to finalize comprehensive regulations around cryptocurrencies and digital assets, optimism is growing among leaders in the country’s blockchain space about the positive impacts detailed crypto laws could have.
According to Denis Sklyarov, co-founder of the decentralized app WiFi Map, crypto integration is key for emerging technologies like blockchain and AI. He believes collaborative regulatory efforts between G20 nations can enable responsible adoption of these innovations across societies.
Manhar Garegrat, CEO of the Panthera Web3 wallet, echoed the need for a unified regulatory approach to effectively tackle issues like money laundering while allowing crypto innovation to flourish. He cited the Financial Action Task Force’s (FATF) Travel Rule as a successful example of balanced crypto oversight.
President of Tezos India Om Malviya noted that harmonized regulations would fully unlock blockchain technology’s potential, benefiting individuals, businesses, and economies globally.
India’s crypto regulation progress has drawn international praise at recent summits like the G20 held in Delhi. Finance Minister Nirmala Sitharaman shared the IMF has provided feedback for the country’s crypto law initiative.
Reports indicate India may soon seek public opinion on crypto policies requiring identity verification by exchanges. While specific details remain uncertain, industry leaders are optimistic India’s detailed stance can positively guide blockchain and AI development. With thoughtful global collaboration, crypto integration could drive technological advancement worldwide.
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