The decision came after Bitcoin hit record highs this week after CME Group announced plans to introduce Bitcoin futures.
34 year old Rajkumari Yadav speaks on the telephone while boiling milk in the open kitchen in Auwar Village in Pratapgarh district of Uttar Pradesh, India on July 1st, 2012. Photo: Sanjit Das for Bloomberg
A government committee has recommended that India’s authorities take immediate steps to shut down the country’s cryptocurrency exchanges, saying that the use of Bitcoin and the like could result in a breach of anti-money laundering provisions, Indian financial news outlet The Economic Times reported on Thursday, citing sources.
India’s finance minister recently appointed a dedicated panel that was tasked with examining the existing framework of Cryptocurrencies and to come out with measures for dealing with the digital assets. The government-appointed panel was given three months to submit its reports on issues relating to consumer protection and money laundering.
The panel has still to decide on how the government can consider bringing in legislation to stop crypto transactions and which body will have regulatory oversight over cryptocurrencies.
The decision came after Bitcoin hit record highs this week after CME Group, operator of the world’s largest futures and options exchange, said that it plans to introduce Bitcoin futures by the end of the year. The cryptocurrency, which has surged more than sevenfold this year, peaked above $7,000 threshold following the Chicago-based venue’s announcement.
According to the newspaper, participants in India’s bitcoin market expressed their disappointment as they were hoping for some form of a legislation to regulate the activities of local exchanges.
Hesham Rehman, CEO and co-founder of Bitxoxo, a Bitcoin exchange operating in India, was quoted as saying that instead of shutting down cryptocurrency dealers, the government must take steps to curb the buying and selling of bitcoins and other cryptocurrencies in cash.
He added: “This move can reduce illegalities in the country.If exchanges come under the definition of dealers, then in case of closure of domestic cryptocurrency exchanges, buyers will start buying them from foreign exchanges.”
A dedicated panel will provide much needed clarity about the various applications of cryptocurrency for financial services, mixing a healthy dose of crypto-vision with down-to-earth solutions for products, security, and Risk Management.
A government committee has recommended that India’s authorities take immediate steps to shut down the country’s cryptocurrency exchanges, saying that the use of Bitcoin and the like could result in a breach of anti-money laundering provisions, Indian financial news outlet The Economic Times reported on Thursday, citing sources.
India’s finance minister recently appointed a dedicated panel that was tasked with examining the existing framework of Cryptocurrencies and to come out with measures for dealing with the digital assets. The government-appointed panel was given three months to submit its reports on issues relating to consumer protection and money laundering.
The panel has still to decide on how the government can consider bringing in legislation to stop crypto transactions and which body will have regulatory oversight over cryptocurrencies.
The decision came after Bitcoin hit record highs this week after CME Group, operator of the world’s largest futures and options exchange, said that it plans to introduce Bitcoin futures by the end of the year. The cryptocurrency, which has surged more than sevenfold this year, peaked above $7,000 threshold following the Chicago-based venue’s announcement.
According to the newspaper, participants in India’s bitcoin market expressed their disappointment as they were hoping for some form of a legislation to regulate the activities of local exchanges.
Hesham Rehman, CEO and co-founder of Bitxoxo, a Bitcoin exchange operating in India, was quoted as saying that instead of shutting down cryptocurrency dealers, the government must take steps to curb the buying and selling of bitcoins and other cryptocurrencies in cash.
He added: “This move can reduce illegalities in the country.If exchanges come under the definition of dealers, then in case of closure of domestic cryptocurrency exchanges, buyers will start buying them from foreign exchanges.”
A dedicated panel will provide much needed clarity about the various applications of cryptocurrency for financial services, mixing a healthy dose of crypto-vision with down-to-earth solutions for products, security, and Risk Management.
Crypto Built More Rails, but the Next Battle Is Over How Much Work a Dollar Can Do
FP Markets Winner Spotlight 🏆 | Global Broker of the Year 2025 #Trading #Broker #Innovation #Shorts
FP Markets Winner Spotlight 🏆 | Global Broker of the Year 2025 #Trading #Broker #Innovation #Shorts
FP Markets takes the spotlight as Global Broker of the Year 2025 at the Finance Magnates Awards.
Martin Stoilov, Head of Client Experience, shares that trust, innovation, and people played a key role in the company’s success, supported by a strong foundation of integrity and client-centricity.
Following this milestone, FP Markets continues to focus on growth, technology investment, and its core values of transparency and excellence.
👉 Be part of FM Awards 2026: https://awards.financemagnates.com/#nominate
FP Markets takes the spotlight as Global Broker of the Year 2025 at the Finance Magnates Awards.
Martin Stoilov, Head of Client Experience, shares that trust, innovation, and people played a key role in the company’s success, supported by a strong foundation of integrity and client-centricity.
Following this milestone, FP Markets continues to focus on growth, technology investment, and its core values of transparency and excellence.
👉 Be part of FM Awards 2026: https://awards.financemagnates.com/#nominate
In this video, we review @HolaPrimeMarketsOfficial, a multi-asset forex and CFDs broker offering different account types, trading platforms, and flexible trading conditions.
We cover the broker’s overall offering, including account options, trading environment, platforms like MT4 and MT5, and additional services such as managed accounts and fast withdrawals.
Watch the full video to see if Hola Prime Markets fits your trading needs.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
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#HolaPrime #ForexBroker #CFDTrading #FinanceMagnates #Trading #Forex #BrokerReview
In this video, we review @HolaPrimeMarketsOfficial, a multi-asset forex and CFDs broker offering different account types, trading platforms, and flexible trading conditions.
We cover the broker’s overall offering, including account options, trading environment, platforms like MT4 and MT5, and additional services such as managed accounts and fast withdrawals.
Watch the full video to see if Hola Prime Markets fits your trading needs.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
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▶️ YouTube: /@financemagnates_official
#HolaPrime #ForexBroker #CFDTrading #FinanceMagnates #Trading #Forex #BrokerReview
Hola Prime Review: What You Need to Know | Full Breakdown by Finance Magnates
Hola Prime Review: What You Need to Know | Full Breakdown by Finance Magnates
In this video, we review @HolaPrime_Global, a proprietary trading firm offering evaluation programs and performance-based payouts in simulated market environments.
We cover how the challenge model works, including account types, profit splits (up to 95%), trading rules, and what it takes to reach a funded account. You’ll also learn about available platforms like MT4, MT5, cTrader, and more, along with insights into payouts, support, and trading conditions.
Watch the full video to see if Hola Prime fits your trading style.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
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▶️ YouTube: /@financemagnates_official
#HolaPrime #PropFirm #Trading #FinanceMagnates #Forex #FuturesTrading #TradingReview #PropFirmReview
In this video, we review @HolaPrime_Global, a proprietary trading firm offering evaluation programs and performance-based payouts in simulated market environments.
We cover how the challenge model works, including account types, profit splits (up to 95%), trading rules, and what it takes to reach a funded account. You’ll also learn about available platforms like MT4, MT5, cTrader, and more, along with insights into payouts, support, and trading conditions.
Watch the full video to see if Hola Prime fits your trading style.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
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▶️ YouTube: /@financemagnates_official
#HolaPrime #PropFirm #Trading #FinanceMagnates #Forex #FuturesTrading #TradingReview #PropFirmReview
Axi Winner Spotlight 🏆 | Global Most Innovative Broker 2025 #Innovation #Trading #Fintech #Broker
Axi Winner Spotlight 🏆 | Global Most Innovative Broker 2025 #Innovation #Trading #Fintech #Broker
Axi takes the spotlight at the Finance Magnates Awards, winning Global Most Innovative Broker 2025.
Olivia Xenofontos and Ivanna Openko share how the team will feel: proud, motivated, and ready to keep delivering.
They also describe the night as well-organized, focused, and enjoyable for all.
👉 Be part of FM Awards 2026.
Axi takes the spotlight at the Finance Magnates Awards, winning Global Most Innovative Broker 2025.
Olivia Xenofontos and Ivanna Openko share how the team will feel: proud, motivated, and ready to keep delivering.
They also describe the night as well-organized, focused, and enjoyable for all.
👉 Be part of FM Awards 2026.
Recognition that matters.
Built on transparency.
Driven by the industry.
The Finance Magnates Awards 2026.
Nominations are now open.
🔗 https://awards.financemagnates.com/?utm_source=SM&utm_medium=social&utm_campaign=recognition-matters
Recognition that matters.
Built on transparency.
Driven by the industry.
The Finance Magnates Awards 2026.
Nominations are now open.
🔗 https://awards.financemagnates.com/?utm_source=SM&utm_medium=social&utm_campaign=recognition-matters
