Cryptocurrency ban: FM about Cabinet Approval on Cryptocurrency bill
Cryptocurrency ban: India is drawing nearer to framing rules on cryptocurrencies Finance Minister of India. On Monday, Financial Minister Nirmala Sitharaman mentioned as she awaits cabinet approval on the cryptocurrency bill. She clears that all private cryptocurrencies will be banned in India, except any virtual currencies issued by the state. However, the inter-ministerial panel on CPC under the Chairmanship Secretary to study the issues related to virtual currencies and proposes specific actions has already submitted its report.
She said that ” Cabinet view on the cryptocurrency remains prepared, but I am awaiting cabinet to approve it.”
Meanwhile, the Reserve Bank of India has worry about the cryptocurrencies traded in the market. Also, has conveyed the same to the government.
However, the RBI Governor said that both the central bank and the Finance Ministry have the same opinion on that matter and there is no difference. We both waiting for the final approval from the Centre.