Paytm Open to Bitcoin Offerings Once India Legalises Cryptocurrency: CFO Madhur Deora

Paytm is onboard with the facility of bitcoin payments if India decides to officially legalize the crypto-space. Paytm Chief Financial Officer Madhur Deora has hinted about the company’s pro-crypto approach in a recent interview with Bloomberg TV. While there is no ban on holding and trading cryptocurrencies in India yet, there are no federal regulations to regulate it yet. The Finance Ministry is working on a draft for the management of space.

“Bitcoin is still in a regulatory gray area if there are no regulatory restrictions in India. At this time Paytm does not Bitcoin. If it ever became completely legal in the country, then clearly there would have been offerings that we could launch,” Deora said. Cited as saying.

India’s federal finance ministry working on ways to structure the crypto-space has formed a new Committee To find out whether income made by cryptocurrency trading can be taxed.

The Reserve Bank of India (RBI) is also working on its launch. first official digital currency As a regulated “central bank digital currency (CBDC)” by the end of 2021.

For now, India awaits the announcement of an official cryptocurrency bill that will be introduced in the upcoming winter session of Parliament.

in recent months, cryptocurrency India has witnessed the expansion of space. In India, Pakistan, Ukraine and Vietnam, cryptocurrency adoption rates increased by 880 percent, as did a report good Released earlier this month.

according to a report good By TechStory, around seven million Indians have invested a collective amount of over $1 billion (about Rs 7,380 crore) in cryptocurrencies.

Disclosure: One97, the parent company of Paytm, is an investor in Gadgets 360.

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