India Is Close to Finalizing a Consultation Paper on Crypto

India is close to finalizing a consultation paper on crypto after consultations with organizations including the IMF, according to a government official. "Our consultation paper is fairly ready," said Ajay Seth, secretary of the Finance Ministry's Department of Economic Affairs. "We have gone through a deep dive consulting with not just the domestic and institutional stakeholders but also organizations like IMF and World Bank. We hope that we will soon be in a position to finalize our consultation paper. Simultaneously we are also beginning our work for some sort of a global regulation (to determine) what role India can play," It is unclear whether the consultation paper will influence the country's crypto legislation, which has yet to be presented in parliament.