Govt committee recommends ban all cryptocurrencies, except those issued by state: FM
- The central government will take a decision on the recommendation of committee and legislative proposal, says FM
- A cryptocurrency bill is being finalized and it will be sent to cabinet soon, minister of state for finance Anurag Singh Thakur said
Through various news papers, news channels and social media it is said that, Government of India is going to ban all the cryptocurrencies
A cryptocurrency bill is being finalized and it will be sent to cabinet soon, minister of state for finance Anurag Singh Thakur said in response to a question by Shivsena MP Sanjay Raut in parliament, that regulatory agencies such as the RBI and SEBI did not have legal framework to directly regulate cryptocurrencies as they are not currencies, assets, securities, commodities issued by identifiable users.
"the government does not consider cryptocurrencies legal tender or coins and will take all measures to eliminate use of these crypto-assets in financing illegitimate activities or as part of the payment system. The government will explore use of the block-chain technology proactively for ushering tin digital economy.
