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24 October 2020

Indian Crypto Community Pushes for Regulatory Sandbox - CoinDesk

Indian Crypto Community Pushes for Regulatory Sandbox - CoinDesk


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Indian Crypto Community Pushes for Regulatory Sandbox.

In the seven months since India’s top court allowed banks to legally service crypto platforms, users and trade volumes at local exchanges have increased.

So to introduce more clarity, some in the Indian crypto community are pitching a way to let platforms stay active but in a cordoned part of the market, supervised by the regulators – otherwise known as a sandbox approach.

According to Thakral, regulations are crucial for the Indian crypto market to protect users from recurring instances of fraudulent activity. 

BuyUCoin’s document also notes that a missing regulatory framework keeps users from reporting legitimate crypto earnings for tax purposes and limits investor protections, discouraging money from flowing into the market. 

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