Indian Crypto Regulation: The Past & The Future

Fireside Chat on 'Indian Crypto Regulation' at IBW2023 Conference 💡
Moderated by Dilip Chenoy (Chairman, Bharat Web3 Association), Amit Rangari (Head of Legal, Mudrex), and Bharath T (Co-founder and CEO, OnMeta) shared insights on the evolving landscape of crypto regulation in India
Details Below 👇
Dilip Chenoy kickstarted the session by:
Discussing the impact of significant regulatory developments, including G20 discussions and VDA reporting
Highlighting the legitimacy and recognition gained by the Web3 sector through reporting requirements
Pointing out the positive impact of FIU reporting on improving clarity and direction for the industry
Discussing investor concerns about Indian regulations
Amit Rangari covered:
Positive impact of being recognized as a reporting entity, bringing legitimacy to their operations
Evolution of KYC and AML practices, highlighting increased scrutiny and approval by regulators
Addressing the unpredictability of government regulations as a major concern for investors
Stressing the need for a top-down approach from the government to change the mindset of law enforcement and bankers
Bharath T spoke about:
Positive step of being recognized as reporting entities and the long way to go for the industry
Challenges of being treated with skepticism by bankers
Difficulty of convincing web2 investors in India about the potential of the crypto market
Outlining future changes needed in VDA regulations, including addressing taxation and promoting blockchain gaming