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🛑 The Finance Ministry Asked RBI & SEBI to Regulate Crypto. Both Are Resisting.
Reason? Regulation means recognizing crypto. That's the issue.
RBI's stance has been the same since 2013.
Its April 2026 discussion paper was shelved for the 5th time.
RBI says regulation would "legitimize" crypto.
SEBI is more open.
Ready to become the primary crypto exchange regulator.
The Twist:
₹437 crore has already been collected in crypto taxes.
But regulation is still being avoided because it means legitimacy.
Illegal things aren't taxed.
Legal things are still not being regulated.
Two regulators. One government. Zero coordination.
Source: Moneycontrol | CryptoTimes | Policy Circle