Indian Government is Actively Collaborating With Crypto Industry: Liminal Custody’s Country Head

cryptonews.com:

As we conclude 2023, the Indian and global crypto industry went through quite a few milestones in terms of regulatory developments.

In an exclusive interview with CryptoNews, Manhar Garegrat, the Country Head for India and Global Partnerships of Liminal Custody, shares insights into the company’s journey, collaborations with law enforcement agencies including the Central Bureau of Investigation (CBI), and how the Indian government is collaborating with the crypto industry.

Discussing the evolving regulatory landscape in India, Manhar emphasized the country’s leadership role in shaping global crypto agendas. As a founding member of the Bharat Web 3 Association, Liminal Custody actively collaborates with regulators, government agencies, ministries, and departments. The company’s goal is to educate stakeholders about blockchain technology, control mechanisms, and the vast possibilities within the crypto space.

“We have actively worked very closely with as many regulators as possible as many government agencies, as many ministries as many departments to educate them about this technology and about all the possibilities that this technology offers.”

India’s proactive stance on the global stage, particularly at the G20 summit, reflects a positive shift from initial skepticism to an informed understanding of cryptocurrencies.

The Indian government has gone from calling for a complete crypto ban to encouraging self-regulation among crypto players this year. This progressive shift, where the central bank is calling for the industry to establish SROs is a positive development. The recent Chainalysis report highlighting India’s grassroots level adoption of cryptocurrencies further reinforces the industry’s significance.

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