Paytm, Republic of india'due south leading digital payments company, said Thursday that it would consider Bitcoin services if the land's regulatory framework for cryptocurrencies was more definite.

Speaking to Haslinda Amin and Rishaad Salamat during an interview on Bloomberg Boob tube, Paytm's chief fiscal officeholder Madhur Deora stated that the rules surrounding Bitcoin (BTC) remain in a "grayness surface area" in Republic of india.

"Bitcoin is even so in a regulatory grey area if non a regulatory ban in Bharat. [...] At the moment Paytm does non do Bitcoin. If it was ever to become fully legal in the land so conspicuously there could be offerings we could launch."

The Reserve Banking concern of India (RBI) had initially prohibited cryptocurrencies, but the decision was reversed by India'south Supreme Court in March 2022. Since then, at that place has been little in the way of concrete activity from either the regime or the RBI regarding cryptocurrency regulations.

Even though the government has considered crypto legislation, the RBI has steadfastly opposed it and is nevertheless pushing for a ban. Equally reported by Cointelegraph, Nirmala Sitharam, the country's finance minister, said that while the government is "not against cryptocurrencies," information technology will wait at how they might assist India's financial technology sector.

Deora's remarks come as Paytm prepares for its initial public offering, which is expected to occur in mid-November and will value at $2.5 billion. Co-ordinate to reports, the IPO is set to get India's biggest ever majuscule marketplace debut.