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No proposal to recognise Bitcoin as currency, says Sitharaman

  •   Mon, Nov 29 2021 10:31:03 PM

New Delhi, Nov 29 (IANS): The Centre has no proposal to recognise Bitcoin as a currency in the country, the Parliament was informed on Monday.

Finance Minister Nirmala Sitharaman, in a written reply in the Lok Sabha, also said that the government does not collect data on Bitcoin transactions.

Bitcoin is a form of digital currency which allows people to buy goods and services among others.

In the ongoing winter session of Parliament, the Centre aims to table the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, through which it seeks a ban on all private cryptocurrencies.

At present, there is no regulation or ban in the country on cryptocurrency.

The Reserve Bank of India has maintained its strong views against cryptocurrencies, saying they pose serious threats to macroeconomic and financial stability.

The central bank also doubted the reported number of investors trading on them and their claimed market valuations.

 
  

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Comment on this article

  • Veer, Nagpur

    Mon, Nov 29 2021

    This would be an icing on cake for BJP minsters if bitcoins are made illegal by the parliament. Even drugs are illegal but BJP makes a lot of money on drugs trade because it’s illegal and there is lot of demand. BJP is killing two birds by one stone.

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Title: No proposal to recognise Bitcoin as currency, says Sitharaman



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