India will not ban cryptocurrencies

The Indian government does not want to completely ban cryptocurrencies, but intends to regulate this segmenteconomy. Minister of Finance of the country Anurag Singh Thakur told about it last Tuesday.

He stressed that at this stage, the Cabinet of Ministers is faced with the task of increasing the transparency of the cryptosphere and suppressing transactions with digital currencies associated with criminal activity.

The minister said:

«The government refuses to countcryptocurrencies are legal tender and will take all measures to prevent the use of such assets in criminal schemes within our payment system».

We will remind, earlier it was reported that the government of India prepared a bill on the complete ban of private cryptocurrencies and submitted it to parliament.

This document also states the intentionauthorities to issue their own token backed by fiat money. It should be an alternative to all other digital currencies that the government wants to outlaw.

</p>

Rate this publication