Industry Reactions On India’s New Calibrated Position On Cryptocurrency

Industry Reactions On India’s New Calibrated Position On Cryptocurrency

In a recent interview with CNBC TV18, Finance Minister Nirmala Sitharaman said the government would be taking a ‘calibrated’ position on the cryptocurrency legislation. The announcement comes close on the heels of the government’s proposed bill aimed at banning all private cryptocurrencies in the country, like Bitcoin and Ethereum. However, the proposed bill drew flak from all quarters, forcing the government to rethink its stand on cryptocurrencies.

The government is now making moves not to be left behind in capitalising on the benefits of blockchain technology, Sitharaman said. The centre is holding discussions with the Reserve Bank of India to bring out proper legislation…

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