The rules around these assets remain in a “grey area,” chief financial officer Madhur Deora said in an interview to Bloomberg TV’s Haslinda Amin and Rishaad Salamat Thursday.
“Bitcoin is still in a regulatory grey area if not a regulatory ban in India,” Deora said. “At the moment Paytm does not do Bitcoin. If it was ever to become fully legal in the country then clearly there could be offerings we could launch.”
The Reserve Bank of India had effectively banned cryptocurrency trading until the courts lifted the prohibitions in March 2020. Since then, the government has considered the adoption of crypto legislation, but the Reserve Bank of India remains highly critical and continues to advocate for its ban.
Deora’s comments come as Paytm prepares for public subscriptions to its Rs 18,300 crore ($2.5 billion) initial public offering, after selling almost half to anchor investors. The listing is expected mid-November.
STARTUP ROCKSTARS IN 2021
Sign-in to see our list of the most promising startups of 2021