RBI Governor Shaktikanta Das on Thursday described cryptocurrencies as "clear danger" and said that anything that derives value based on make believe, without any underlying, is just speculation under a sophisticated name.
An Indian ministerial panel will meet next week to discuss a goods and services tax on cryptocurrency transactions, people with knowledge on the matter said.
Sebi said that crypto assets are neither defined as securities under Securities Contracts (Regulation) Act, 1956 or SCRA, nor are they notified as securities by the Central Government.