The Indian government answered two sets of questions from several members of the Lok Sabha, the lower house of the Indian parliament, on Monday about cryptocurrencies and their regulation. Minister of State for Finance Pankaj Chaudhary said that no specific time frame was provided for the cryptocurrency bill, "By definition, crypto assets are borderless and require international cooperation to prevent regulatory arbitrage. Therefore, any legislation on the subject can only be effective if there is significant international cooperation in assessing the risks and benefits and evolution of common taxonomies and standards." In addition, he also said that policies related to crypto assets and the related ecosystem are formulated by the Ministry of Finance. (Bitcoin.com)