Cryptocurrencies are neither currency nor commodity; will bring bill soon: Anurag Thakur
Thakur says existing laws are inadequate to deal with issue of digital currencies, which is why Centre has formed an inter-ministerial panel, and now bill is being finalised before it ll be sent to Cabinet
BusinessToday.In | February 9, 2021 | Updated 16:22 IST
Minister of State for Finance and Corporate Affairs Anurag Thakur
Minister of State for Finance and Corporate Affairs Anurag Thakur on Tuesday said regulatory bodies like Reserve Bank of India (RBI) and Securities and Exchange Board of India (Sebi) don t have a legal framework to directly regulate cryptocurrencies as they are neither currencies nor securities or commodities issued by an identifiable user.
India plans to bring law to ban cryptocurrencies, introduce official digital currency
The law will create a facilitative framework for creation of the official digital currency to be issued by the Reserve Bank of India (RBI), said the agenda
Reuters | January 31, 2021 | Updated 09:12 IST
India plans to introduce a law to ban private cryptocurrencies such as bitcoin and put in place a framework for an official digital currency to be issued by the central bank, according to a legislative agenda listed by the government.
The law will create a facilitative framework for creation of the official digital currency to be issued by the Reserve Bank of India (RBI), said the agenda, published on the lower house website on Friday.