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Wednesday, September 6, 2017

India Keeps Quiet on ICOs So Far, Focuses on Cryptocurrency Misuse

India Keeps Quiet on ICOs So Far, Focuses on Cryptocurrency Misuse

India has not yet responded to China’s sudden ICO ban, with lawmakers continuing to focus on “misuse” of cryptocurrencies in general.

As part of an ongoing examination of cryptocurrency regulation, the country’s central bank told a government panel Monday that such currencies are “susceptible” to criminal activity.

“It is true that while virtual currencies may have legitimate uses, some of their characteristics like anonymity make them susceptible to misuse or abuse," the Reserve Bank of India reports, quoted by multiple local news outlets.

China’s heavy-handed approach to ICO control has yet to find company among major economies, with even Hong Kong choosing to follow a similar approach to that of the US Securities and Exchange Commission.

Full story at

Source: CoinTelegraph

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