- The Indian government is reportedly planning to finalize its stance on the legality of cryptocurrency by the first quarter of next year in order to become Financial Action Task Force (FATF) compliant.
- It will help the Indian government decide whether to ban cryptocurrency transactions or provide a legal framework for dealing with crypto trade in India, Outlook India reported Monday, citing a senior government official.
- India is currently not FATF-compliant on crypto assets since the global money laundering and terrorist financing watchdog requires countries to have a clear stance on the legality of crypto assets to be compliant.
India to Finalize Stance on Legality of Cryptocurrency by Q1 2023: Report
