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Can Blockchain Summit India Bring Positive Changes In Crypto Regulations

Blockchain Summit India 2019 is all set to be held on February 22-23 at IIML Noida Campus. This summit is actually making policymakers hasten and come up with the final draft for crypto regulations in the country.

The summit is targeted towards enabling Indian government and ministries to speed up the process of developing a flourishing cryptocurrency and blockchain ecosystem. Marketing VP of Cashaa Janina Lowisz, the FinTech partner of the summit, stated that for the first time, the ministers of the relevant departments have come together leading universities, global brands and space to learn and speed up the process for regulating cryptocurrency in India.

Blockchain Summit India is supported by the Department of Science and Technology, Government of India and State Government of Uttar Pradesh. There are other government participants like the Ministry of Commerce and Industry, Ministry of Law and Justice, Ministry of Human Resources and Department of Information Technology.

The committee for drafting the regulatory framework of the cryptocurrency in India is headed by Subhash Chandra Garg. In an RTI filed by CoinCrunch India, the response received that the committee is in the finalization stage. The response doesn’t give a clear aspect of whether the Indian government is planning to regulate them or not. The future of cryptocurrency in India has been unclear ever since, as published on Moneycontrol.

Janina Lowisz said, “The Ministry of Finance officials will be there [at the summit]. An invitation has been sent to Mr. Garg.” As he is currently out of the country, his team will be available to attend the summit on Day 2, as mentioned on Bitcoin News.

Blockchain Summit India is going to have 5000+ attendees and blockchain-oriented companies with startups who will get to introduce their ideas in front of the experts. This event can help in showing the officials of India the true power behind blockchain and cryptocurrency and help bring out the positive changes while drafting for crypto regulations.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]

Aabha Singh finds time from her hectic editorial schedule to write finance articles.

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