Nasscom, Fintech startups want crypto currency to be included in RBI regulatory sandbox

Technology industry lobby groups and founders of startups have asked India’s banking regulator to include crypto-currency and crypto assets in its proposed regulatory sandbox framework for the fintech industry.
The Reserve Bank of India’s ‘Draft Enabling Framework for Regulatory Sandbox’, put out on April 18, had excluded crypto-currency, initial coin offerings, credit registry and other related sectors. The regulator had invited comments from stakeholders on the guidelines by May 8.
Distributed ledger, the technology on which crypto-currency and blockchain is based, is considered the future of finance, but applications under blockchain technologies have been included for testing under the proposed framework.