• Wednesday, December 07, 2022

Government to soon bring bill on crypto currencies in India

Government to soon bring bill on crypto currencies in India
on Feb 10, 2021
Government to soon bring bill on crypto currencies in India

The government will soon bring a bill on crypto currencies as existing laws are inadequate to deal with issues concerning them, minister of state for finance Anurag Thakur told Rajya Sabha on Tuesday.

Replying to a question in the Upper House, Thakur said regulatory bodies like RBI and Sebi do not have any legal framework to directly regulate crypto currencies as they are not currencies, assets, securities or commodities issued by identifiable users.

In view of the risks associated with Virtual Currencies (VCs), including Bitcoins, the Reserve Bank of India (RBI) through a circular in April 2018, had advised all the entities regulated by it not to deal in VCs or provide services for facilitating any person or entity in dealing with or settling VCs.

  Source: Startup News

Post a comment

Your email address will not be published. Required fields are marked *

0 comments

    Sorry! No comment found for this post.