No proposal to recognise ‘Bitcoin’ as a currency in India: FM Nirmala Sitharaman

Monday, 29 November 2021newsdesk

Responding to a question in the Lok Sabha, Finance Minister Nirmala Sitharaman on Monday said that the government has no proposal to recognise Bitcoin as a currency in the country. She also informed the Lok Sabha that the government does not collect data on Bitcoin transactions.

New Delhi, 29 November 2021

As per news report of The Indian Express, When asked whether the government has any proposal to recognise Bitcoin as a currency in the country, the Finance Minister replied, “No, sir”. This development comes as the government plans to introduce the Cryptocurrency and Regulation of Official Digital Currency Bill 2021 in the ongoing Winter Session of Parliament. The Bill seeks to ban all but a few private cryptocurrencies to promote underlying technologies while allowing an official digital currency by RBI. MP Thirumaavalavan Thol asked the Ministry of Finance whether the government is aware of the cryptocurrencies that are traded in India and whether trading in cryptocurrency is legally permitted in India. He also asked whether the Government has allowed cryptocurrency exchanges as a legally permitted entity in India.

Source - The Indian Express