For all the hype about a revolutionary innovation, cryptocurrencies themselves do not appear to be designed to meet any need in the finance space, deputy RBI Governor T Rabi said.
The government is unlikely to bring a bill on cryptocurrency in the ongoing winter session of Parliament, top sources said on Wednesday. They also suggested that whenever a bill will be brought, it will be referred to the parliamentary standing committee for wider deliberations with stakeholders.
All eyes are now on the proposed cryptocurrency bill to get more clarity on transfer of funds to and from cryptocurrency exchange accounts. The Supreme Court lifted the ban on rupee transactions for cryptocurrencies.
The crypto sector is currently one of the fastest-growing investment markets in the world and India is not far behind. In the last few years, as real interest rates have gone down, traditional and even first-time investors have been looking for high yield investment options and cryptocurrencies have
Union Finance Minister Nirmala Sitharaman on Tuesday said the government has taken no decision yet on banning advertisements of digital currencies. Speaking on the floor of the Rajya Sabha, Sitharaman said that there were extensive discussions on the regulatory capacity of cryptocurrencies and that