The world now watches as Indian members of a government-appointed inter-disciplinary committee have released a report to Finance Minister Arun Jaitley on cryptocurrency regulatory standards, according to a report made August 7, 2017, from New Delhi.
As recently as this April, the committee convened to conduct an all-inclusive review of all blockchain-based currencies. After accepting public comments on the subject during the month of May, the group met to deliberate in June, as reported by ETHNews. While the findings in the report have not been made public, it is very likely that they will have an influence on the country's future stance.
Zebpay, which is a founding member of the Digital Assets and Blockchain Foundation of India (DABFI), is pushing for a solution that allows DABFI to act as "a self-regulatory" organization.
Saurabh Agrawal, co-founder and CEO of Zebpay, highlighted a need for oversight and licensing of crypto-exchanges. "We are for some form of a task force or a controlling body that will be monitoring the activities of exchanges," said Agrawal. "We want ultimately exchanges to get licences just as banks are granted licences."
Once the report is made public, ETHNews will provide additional coverage of its regulatory ramifications.