India will frame cryptocurrency law after global consensus: Report

India's central bank has openly voiced its opposition to private digital currencies.

India will frame a legislation for cryptocurrencies only after a global consensus emerges on regulating such assets, according to a person familiar with the matter.

The government isn’t planning a law soon to either regulate or tighten provisions, the person said, asking not to be identified as the discussions are private. A finance ministry spokesman wasn’t immediately available for a comment. 

After years of back-and-forth, Prime Minister Narendra Modi’s administration announced a 30% tax on income from digital assets from April 1, making it costlier to trade and bringing such transactions at par with activities like horse racing and lotteries. It had