Indian Blockchain committee head clarifies that cryptocurrency is not illegal in India

The Union Budget 2018 had something in store for the cryptocurrency startups and exchanges in the country.

Reiterating its earlier stand on cryptocurrency, Finance Minister Arun Jaitley, in the Union Budget for 2018-19, said:

“…The Government does not consider crypto-currencies legal tender or coin and will take all measures to eliminate use of these crypto-assets in financing illegitimate activities or as part of the payment system. The Government will explore use of Blockchain technology proactively for ushering in digital economy.”