The Indian government has ramped up its effort to provide the much-needed clarity on cryptocurrencies.
After months of consultation with domestic as well as foreign stakeholders and organizations such as the IMF and World Bank, India is in the last stages of finalizing a consultation paper on cryptocurrencies. According to the economic affairs secretary Ajay Seth, the government is “fairly ready.
In yet another setback, the National Payments Corporation of India , which oversees the Unified Payments Interface , recently released an official statement clarifying that they are not aware of any crypto exchange using UPI. For the uninitiated, UPI is a commonly used instant real-time payment system that facilitates inter-bank transactions using a mobile phone.
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