India plans to ease cryptocurrency regulation

The Indian government is working on changing its approach to cryptocurrency regulation in the country, which will help integrate them into the national economy even faster. This was reported by India's Minister of Economy, Ajay Seth, according to HappyCoinNews.

The minister noted that this initiative is a response to the changing attitude toward cryptocurrencies in other countries.

"More than one or two jurisdictions have already changed their stance on digital assets in terms of their use and adoption, recognizing their importance," Seth stated.

There is a possibility that this policy shift may delay the release of a discussion document outlining the official stance of India's regulator on cryptocurrencies. The document was supposed to be published in September last year but remains on hold.

Earlier, we reported that Indian law enforcement authorities had detained Masood Alam, who is suspected of hacking the WazirX cryptocurrency exchange and stealing digital assets worth $235 million.