Hashed Emergent’s Vishal Achanta told Cointelegraph that COINS Act aims to turn India from a “regulatory minefield” into a destination of choice for the crypto community.
Web3 venture firm Hashed Emergent and policy advisory group Black Dot have released a model crypto law aimed at clarifying India’s regulatory framework for digital assets.
Announced Monday, the Crypto-systems Oversight, Innovation and Strategy (COINS) Act offers a legislative blueprint to support a clearer, industry-led policy environment for crypto in India. The model law is non-binding and does not carry any legal effect unless formally introduced and passed by the Indian parliament.
Still, the framework offers policymakers a blueprint for crypto-related digital rights, including self-custody, protocol access and financial privacy. It also addresses key legal pain points in the country such as punitive taxation, regulatory uncertainty and the absence of a dedicated crypto regulator.
The model law recommends the creation of a new regulatory body called the Crypto Assets Regulatory Authority (CARA) to oversee crypto activities in India, and incorporates global standards from the European Union’s Markets in Crypto-Assets Regulation (MiCA) and Singapore’s regulatory sandbox, tailored to India’s market and constitutional context.
You can get bonuses upto $100 FREE BONUS when you:
💰 Install these recommended apps:
💲 SocialGood - 100% Crypto Back on Everyday Shopping
💲 xPortal - The DeFi For The Next Billion
💲 CryptoTab Browser - Lightweight, fast, and ready to mine!
💰 Register on these recommended exchanges:
🟡 Binance🟡 Bitfinex🟡 Bitmart🟡 Bittrex🟡 Bitget
🟡 CoinEx🟡 Crypto.com🟡 Gate.io🟡 Huobi🟡 Kucoin.
Comments