THELOGICALINDIAN - The Indian Ministry of Finance on Wednesday appear that the government has constituted a board to abstraction agenda currencies including bitcoin with a address due in three months
Also read: Drug Enforcement Officer From India Accused of Stealing Bitcoins
About the Committee
The inter-disciplinary board was established by the Department of Economic Affairs of the Ministry of Finance. It is chaired by Special Secretary (Economic Affairs) and includes assembly from Department of Economic Affairs, Department of Financial Services, Department of Revenue (CBDT), Ministry of Home Affairs, Ministry of Electronics and Information Technology, Reserve Bank of India (RBI), National Institution for Transforming India (NITI Aayog) and State Bank of India.
The board is tasked to:
India’s Concerns Over Digital Currencies
In its announcement, the Finance Ministry wrote:
The aboriginal official warning from RBI apropos agenda currencies was issued on December 24, 2013, and the additional one was issued on February 1.
Recently, Indian Parliament Member Kirit Somaiya has evidently announced adjoin Bitcoin. He raises apropos over the abridgement of authoritative anatomy about the agenda currency, advancement regulators to acknowledge it actionable in India. Speaking last anniversary in the Lok Sabha, India’s House of the People, he said: “I appetite aloft the government to booty a attending at bitcoins. It is an actionable currency.”
In a contempo interview with Moneycontrol, he differentiated his country from Japan which afresh anesthetized a law to admit Bitcoin as a acknowledged method of payment. He told the publication:
Meanwhile, bitcoin trading aggregate has been aggressive in India. Last week’s aggregate on the third-largest barter that accepts Indian rupees, Localbitcoins, was 18.5 actor rupees.
What activity adjoin Bitcoin do you anticipate the Indian government will eventually take? Let us apperceive in the comments area below.
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