India to Issue Crypto Discussion Paper in July, Stablecoins in Focus
India is finally planning to put out its much-awaited crypto discussion paper by July. Sources say the focus will likely be on stablecoins, especially how they could help make remittances cheaper and faster. But the paper won’t take a clear position on how the country plans to regulate the wider crypto space just yet.
The paper, being prepared by a working group led by the Department of Economic Affairs (DEA), is expected to include key use cases and take cues from the recent U.S. legislation on stablecoins.
However, it will remain largely neutral, aiming to initiate consultations across ministries, regulators, industry stakeholders, and the public. Multiple sources said this will only be the first version of the paper, and at least…
