Government Finally Clears its Stance on Bitcoin; Here’s What FM Sitharaman Says

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Government Finally Clears its Stance on Bitcoin; Here’s What FM Sitharaman Says

By Malvika Gurung

Investing.com -- The eagerly-awaited winter session of the Parliament has started on Monday, November 29, and Finance Minister Nirmala Sitharaman has finally voiced out the Government’s stance on the country’s most popular cryptocurrency, Bitcoin .

As per a PTI report, Nirmala Sitharaman in a reply to the Lok Sabha on Monday said that the Government has no proposal to recognise Bitcoin as a currency in India, i.e., the Government fails to see Bitcoin as a legitimate currency.

In response to the booming transaction of Bitcoin in India, the finance minister responded that the government does not collect any data related to transactions of Bitcoins.

The government’s statement comes at a time when it is looking forward to drafting a cryptocurrency bill, the Cryptocurrency and Regulation of Official Digital Currency Bill 2021 in the winter session, which would execute effectively, in parallel with the technological developments in the digital space.

This bill seeks to allow only a few private cryptocurrencies in the country and ban all the others while paving the path for introducing an official digital currency by RBI.

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  • bittoo Singh @bittoo Singh
    This statement is coming from more than 2-3yrs
    Like 1
  • Ramdev Kaswan @Ramdev Kaswan
    digital india would make a digital currency to value own r upay
    Like 0
  • Swamidutta Mishra @Swamidutta Mishra
    hello
    Like 0
    • Beeru singh @Beeru singh
      hlo
      Like 0
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