Finance Minister Nirmala Sitharaman on Monday, December 8, said that it will take “significant international collaboration” to efficiently regulate cryptocurrency and other virtual digital assets (VDAs).
Speaking at the Lok Sabha, the minister said that India does not collect data nor regulate the crypto industry that is “inherently borderless” in nature.
“Any regulatory framework for crypto assets can be effective only with significant international collaboration,” Sitharaman said.
The minister’s statement of avoiding complete regulation of…

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