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ICAI to Release Concept Paper on Cryptocurrencies
February 19, 2018
President of the Institute of Chartered Accountants of India (ICAI) Naveen N D Gupta said that the CA apex body is studying the various principles of the virtual currencies and may compile a concept paper soon.
He said that they are working on auditing and accounting standards for the cryptocurrencies but it’s too early to say anything now.
Although virtual currencies like Bitcoin have become all the rage in the investment arena today, there is no framework in India to oversee and regulate related activities. In that regard, organizations and groups such as the Department of Economic Affairs, ICAI, etc. are now looking into it.
