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MoS Finance says current laws inadequate to deal with the subject
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| A+A A- By Express News Service
NEW DELHI: The Centre on Tuesday said that the Inter-ministerial panel on cryptocurrency has submitted its report and that a bill to regulate cryptocurrency is being finalised. This bill is likely to be sent to the Union Cabinet for approval soon.
“A high-level Inter-Ministerial Committee (IMC) was constituted under the Chairmanship of Secretary (Economic Affairs) to study the issues related to virtual currencies and propose specific actions to be taken in the matter recommended in its report that all private cryptocurrencies, except any virtual currencies issued by state, will be prohibited in India,”