India claims no recognition of cryptocurrency
Finance Minister Arun Jaitley
Bitcoins or such crypto-currencies are not legal tender and those indulging in such transactions are doing it at their own risk, Finance Minister Arun Jaitley said on Tuesday as several members expressed concerns over trading on these platforms.
Jaitley emphasised that the Centre's consistent position was that such currencies were not legal tender.
"The government is examining the matter. A committee under the chairmanship of secretary, department of economic affairs, is deliberating over all issues related to cryptocurrencies to propose specific actions to be taken," he said.
The decision by the Government of India, with a $ 2.3 trillion (US) $ 2.3 trillion economy, to be the sixth in the world, will be the next blow to the value of Bitcoin, after many countries have not acknowledged or warned about the danger. The risk of cryptocurrency
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