Tuesday, October 4, 2022
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Paytm May Offer Bitcoin Offerings If India Legalises Cryptocurrency

The government has contemplated enacting crypto laws since then, but the RBI remains sceptical and continues to argue for its prohibition.

Paytm, India’s digital payments leader, said it might investigate bitcoin offerings if the country’s regulators cleared regulatory uncertainties surrounding cryptocurrency adoption.

The rules around these assets remains in a “grey area,” chief financial officer Madhur Deora said, “Bitcoin is still in a regulatory ban in India. At the moment Paytm does not do bitcoin. if it was ever to become fully legal in the country then clearly there could be offerings we could launch.”

Until the quotes abolished the limits in March 2020, India’s central bank essentially outlawed cryptocurrency trading. The government has contemplated enacting crypto laws since then, but the RBI remains sceptical and continues to argue for its prohibition.

Deora comments as Paytm for public subscriptions to its 183 billion rupee ($2.4 billion) initial public offering, after selling almost half to anchor investors. The listing is expected in mid-November.

(With Inputs from Bloomberg)

Source: Business World

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