NEW DELHI: India favours a global consensus on regulating cryptocurrencies as a local response may not yield the desired results because these instruments are traded on the internet and not tied to any jurisdiction, economic affairs secretary Ajay Seth said.
"Regulation or ban whatever it is, appropriate policy response to crypto assets is in the making. How long, I am unable to put a finger on. I don't see this happening in the budget session for sure. The work is in progress," he said when asked whether the government would come out with a regulation on private cryptocurrencies in the ongoing budget session of Parliament.
