• The Indian Finance Ministry has highlighted the need for a common approach to regulating the crypto ecosystem in its Economic Survey this year.
• The survey explains that crypto assets have no intrinsic cashflows and the Reserve Bank of India has warned that they pose risks to the country’s financial stability.
• The U.S. Securities and Exchange Commission has also disqualified bitcoin, ether, and various other crypto assets as securities.

The Indian Finance Ministry has recognized the importance of regulating the crypto ecosystem in its flagship Economic Survey this year. This document, which is released annually, outlines the performance of the Indian economy in the previous financial year and presents an economic outlook for the current financial year.

The survey explains that crypto assets have no intrinsic cashflows and acknowledges the risks that they pose to India’s financial stability. The Reserve Bank of India (RBI) has repeatedly warned that crypto has no intrinsic value and has recommended banning cryptocurrencies like bitcoin and ether. The survey further states that U.S. regulators have disqualified bitcoin, ether, and various other crypto assets as securities.

It is clear that the Indian government is taking the regulation of the crypto ecosystem seriously, and this is reflected in the Finance Ministry’s Economic Survey. This survey highlights the need for a common approach to regulating the crypto space in India, as the risks posed by these assets are becoming more and more evident.

The Indian government is also looking to collaborate with other nations in the regulation of crypto. This is to ensure that a coherent and unified approach is taken that works to protect investors and safeguard the financial system. The government is also looking to learn from other nations’ experiences in the crypto space in order to ensure that India’s own regulations are effective and up-to-date.

The Economic Survey is a significant step forward in the regulation of crypto assets in India, and it will be interesting to see how the government moves forward in this area. It is clear that the Indian government is taking the regulation of the crypto ecosystem seriously, and it will be interesting to see the impact of these regulations in the future.