There has been a lot of buzz about cryptocurrencies in GIFT CITY, Gujarat International Finance Tec-City, being regulated in India by the IFSCA (International Financial Services Centers Authority) by 2025.
This news sparked interest as it suggested that the Indian cryptocurrency market could soon receive official regulation, bringing much-needed clarity and legitimacy.
GIFT City is a global financial hub in India with a focus on banking, insurance and fintech. The aim is to attract international companies and investments and provide a strategic platform for implementing new regulations for emerging sectors such as cryptocurrencies.
GIFT City’s proposed crypto regulatory framework aims to set clear rules for crypto exchanges, tokenization and virtual assets. If these rules are introduced, the IFSCA would monitor these rules to ensure that businesses in GIFT City follow them. This could include policies on things like compliance etc.
