India puts discussion paper on cryptocurrency policy stance on hold due to other priorities

India has not yet released a discussion paper outlining its policy stance on cryptocurrencies as officials focus on other priorities, according to two people familiar with the matter. The document was initially expected to be released in September after consultations with stakeholders such as the central bank and market regulators. The intention to release remains, but there is no timeline, the people said. India, the world's fifth-largest economy, has yet to enact comprehensive cryptocurrency legislation, and the discussion paper is expected to be a step in that direction. The country calls cryptocurrencies unregulated, but it has imposed high taxes on the industry and requires cryptocurrency entities to register with the country's financial intelligence unit (FIU-IND) to comply with anti-money laundering (AML) and terrorism financing standards set by global bodies such as the Financial Action Task Force (FATF). (CoinDesk)