India’s leading payment company Paytm is reportedly considering Bitcoin services

Paytm, India’s leading digital payments company, said Thursday that it would consider bitcoin services once the country’s regulatory framework on cryptocurrencies is clearer.

In an interview with Haslinda Amin and Rishaad Salamat in an interview on Bloomberg TV, Paytm CFO Madhur Deora stated that the rules around Bitcoin (BTC) in India remain in the “gray area”.

“Bitcoin is still in the regulatory gray area if it weren’t for a regulatory ban in India. […] Currently, Paytm does not trade Bitcoin. Of course, if it becomes completely legal in the country, we can make the offers that we can make. “

The Reserve Bank of India (RBI) initially banned cryptocurrencies, but the decision was overturned by the Supreme Court of India in March 2020.

Although the government has been considering crypto legislation, the RBI is firmly against it and is still pushing for a ban. As reported by Cointelegraph, Nirmala Sitharam, the country’s finance minister, said that while the government was “not against cryptocurrencies,” it would look into how it could support the country’s fintech sector.

Deora’s comments come as Paytm prepares its initial public offering, which is expected to take place in mid-November and is valued at $ 2.5 billion. According to reports, the IPO is set to be India’s biggest capital market launch of all time.

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