When Indian Government start own crypto currency. The central government has given a big statement in the Rajya Sabha regarding cryptocurrency. Minister of State for Finance Anurag Thakur while answering a question in Rajya Sabha said that the government is in the process of finalizing a cryptocurrency bill. It will soon be sent to the Union Cabinet.
When Indian Government start own cryptocurrency
Actually, Anurag Thakur said that the central government will soon bring a bill regarding cryptocurrency. He said that regulatory bodies like Reserve Bank, SEBI etc. do not have any legal framework to directly regulate cryptocurrencies, as they are neither currencies nor assets nor securities.
He said that the existing laws are not sufficient to deal with this subject and the government constituted an inter-ministerial committee in this regard, which gave its report. In the year 2018, the Reserve Bank of India banned banks related to cryptocurrency transactions. However, the ban was lifted by the Supreme Court in March last year.