Paytm, India’s digital payments pioneer would contemplate Bitcoin offerings if the nation’s authorities eliminated regulatory uncertainty surrounding the adoption of cryptocurrencies.
The principles around these assets stay in a “grey area,” Chief Financial Officer Madhur Deora stated in an interview to Bloomberg TV’s Haslinda Amin and Rishaad Salamat Thursday.
“Bitcoin continues to be in a regulatory grey area if not a regulatory ban in India,” Deora stated. “In the intervening time Paytm doesn’t do Bitcoin. If it was ever to become totally legal in the country then clearly there could be choices we may launch.”
India’s central bank had successfully banned cryptocurrency buying and selling till the courts lifted the prohibitions in March 2020.
Related: Indian Crypto Law will be Planning in the next General Budget in February
Since then, the government has considered the adoption of crypto laws in india, however, the Reserve Bank of India stays extremely important and continues to advocate for its ban.
Deora’s comments come as Paytm prepares for public subscriptions to its ₹ 18,300 crores ($2.5 billion) initial public offering (IPO), after promoting virtually half to anchor buyers. The listing is predicted in mid-November.
Source: NDTV
