Indian Digital payments giant Paytm could consider offering Bitcoin Tradings if the government will pull back various regulatory policies that make cryptoucrrency trading illegal in India.

Madhur Deora, the Chief Financial Officer at Paytm in an interview with Bloomberg TV, has said that the bitcoin is still in a regulatory grey area in India. If it ever becomes  legal in the country, then the company could offer Bitcoin Tradings.   Paytm IPO Price Band Set at Rs 2,080-2,150; Subscription to Open on November 8, 2021

The Reserve Bank Of India(RBI) had in 2018 banned banks and other financial institutions from facilitating transactions in digital currency. The Supreme Court reversed the order in 2020 allowing trading of virtual coins like bitcoin. Since then, though the government has considered the implementation of crypto legislation, but RBI remains extremely critical and continues to support its ban.

The Indian government has been working on a cryptocurrency bill for quite some time. Initially, the government was considering a bill to ban cryptocurrencies, like bitcoin. However, recent reports suggest that the government is now planning to regulate the crypto sector.

Deora’s statement has come at a time when the Indian digital payment giant is set to launch its initial public offerings (IPO) on November 8.

The price band has been set at Rs 2,080- Rs 2,150 per share. This is indicative that the firm is now valued between Rs 1.44 lakh crore- Rs 1.48 lakh crore. 

Paytm had frozen Paytm Payments Bank’s customer accounts suspected of crypto trading in August Last Year.

(The above story first appeared on LatestLY on Nov 06, 2021 05:33 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).