Indian Ruling Party-Aligned Group Takes Stance on Crypto Regulation

Indian Ruling Party-Aligned Group Takes Stance on Crypto Regulation
An economic group allied to the ideological organization behind India’s ruling party has for the first time revealed its stance on cryptocurrencies, demanding a ban on private digital currencies.A resolution passed at the 15th national convention of the Swadeshi Jagran Manch (SJM) in the Indian city of Gwalior also “quickly” sought a law to issue a central bank digital currency (CBDC) to be considered as legal tender; and supported the exploration of blockchain technology.While SJM includes a member of the board of directors of the Reserve Bank of India, Swaminathan Gurumurthy, among its co founders, observers say it’s unlikely to…