The Indian stock exchanges intend to create a database. User account data will be associated with Aadhaar ID or Permanent account Number
Stock markets in India plan to create a central user repository that will help in creating and maintaining transactions in real time. Stock exchanges are members of the committee Blockchain and Cryptocurrency Committee ( BACC ) Internet and Mobile Association of India ( IAMAI )
Ajeet Khurana , the chairman of the committee, stressed that this is one of the proposals that we plan to present to the government committee that deals with the issue of regulation. One member explains:
Data on buyers ‘and sellers’ purchases cryptocurrency you will then be able to track using the ID Aadhaar or a fixed user account number (PAN). There will be details such as the total number cryptocurrency , their value, as well as a table with the history of buying and selling by individual users, this data will be available in the central repository.
Aadhaar is a 12-digit unique identification number issued to all residents of India based on biometrics and demographic data. It is the world’s largest biometric identification system, with more than 1.19 billion registered members. PAN is a unique 10-character code that acts as an identification for individuals, families and businesses, especially those who pay income tax. It is also issued to foreigners who have a valid visa.
BACC intends to present a proposal this week to a government commission chaired by the secretary for Economic Affairs of the SC Garg . He expects the government to submit its recommendations by March and appoint a supervisor to monitor trade kryptowalutami .
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