Paytm, one of India’s largest payments companies, is open to offering bitcoin services if crypto-asset becomes legal in the country, according to its chief financial officer. He said that if bitcoin “is going to become fully legal in the country, then obviously there could be offers that we can launch.”
Paytm is open for Bitcoin offers
Madhur Deora, Paytm’s chief financial officer, has indicated that his company is open to offering bitcoin services if crypto assets become legal in India, local media reported Thursday, citing his recent interview with Bloomberg TV.
Diora was quoted as saying:
Bitcoin is still in a regulatory gray area if not a regulatory ban in India. At the moment, Paytm does not do bitcoin. If it becomes fully legal in the country, then obviously there could be shows that we can launch.
In August last year, Paytm reportedly froze the accounts of Paytm Payments Bank customers suspected of cryptocurrency trading.
Paytm is currently the second most valuable internet company in India. The company plans to launch an initial public offering (IPO) between November 8 and November 10. money markets.
The Indian government has been working on a cryptocurrency bill for some time. Initially, the government was considering a bill to ban cryptocurrencies, such as bitcoin. However, recent reports indicate that the government is now planning to regulate the crypto sector. One lawmaker said the encryption law would be “distinctive and unique”. Last month, Treasury officials reportedly said that cryptocurrency regulation is likely to be issued by February.
Meanwhile, the country’s central bank, the Reserve Bank of India (RBI), still has “serious concerns” about the cryptocurrency, which has been reported to the government. The Reserve Bank of India also said that the digital rupee model may be unveiled by the end of the year.
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