Description: The report outlines India's booming crypto industry, advocating for clear regulations to balance innovation with policy risks. It suggests adopting a safe harbour similar to internet intermediaries, analyzing international regulatory models, and recommending a co-regulatory approach involving SEBI, RBI, and the Ministry of Finance. Key proposals include defining crypto assets broadly, making exchanges the focal point of regulation, enhancing investor protection, and ensuring interoperability and safety in crypto transactions.
Attribution: Bal, Meghna; Venkatesan, Shweta and Ramdas, Varun. Regulating Crypto Assets in India. Monograph, November 2021. Observer Research Foundation and Esya Centre.