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“There is a view within the government that the recommendations made by the Subhash Garg are dated and a fresh look is needed at the use of cryptos rather than a total ban,” an official familiar with the matter told The Economic Times.
According to the report, the Indian government is planning to treat Bitcoin and other cryptocurrencies as digital assets. Despite the reason that there is no formal announcement about the new committee, authorities have already started talking to different stakeholders including cryptocurrency trading platforms in the country to evaluate the market.
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Planned Indian law on Bitcoin may give exit window to investors, may lead to probe in past transactions
The Indian government may soon come with a law which is likely to ban all cryptocurrencies, may look into past transactions but, will provide investors with a window to exit from their holdings
India Today Tech | April 22, 2021 | Updated 10:38 IST
The Indian government has maintained a strong stance against cryptocurrencies.
Highlights
New law to provide investors with exit mode.
Government may look at past crypto transactions.
The Indian government may soon come with a law which is likely to ban all cryptocurrencies, may look into past transactions but, will provide investors with a window to exit from their holdings. According to a new report by The Indian Express, which cites a government official, the possibility of providing a three to six month window has been discussed in inter- ministerial discussions. However, a final draft of the bill is yet to be taken by