No cryptocurrency launch plan in India. Representational picture
Cryptocurrency in India: There isn’t any plan to introduce India’s personal cryptocurrency, the Central authorities has knowledgeable the Rajya Sabha. Replying to a query posed by MP Sanjay Raut within the Higher Home, the federal government denied having any plan for introducing India’s personal cryptocurrency.
Union Minister of State for Finance, Anurag Thakur, reiterated the federal government place on cryptocurrency introduced in Funds speech 2018-19. The federal government had then stated it didn’t think about cryptocurrencies as authorized tender or coin.
“It was introduced within the Funds Speech of yr 2018-19 that the Authorities doesn’t think about crypto-currencies authorized tender or cash and can take all measures to remove use of those crypto-assets in financing illegitimate actions or as a part of the fee system,” Thakur stated.
The minister, nevertheless, stated that the Authorities will discover using blockchain know-how. “The federal government will discover use of the blockchain know-how proactively for ushering in digital financial system,” stated Thakur.
The federal government additionally denied being conscious of corporations utilizing cryptocurrency for worldwide transactions within the final one yr. This reply got here in response to Raut’s query: “whether or not Authorities is conscious that many enterprise corporations are utilizing cryptocurrency for worldwide transactions over the last one yr.”