Government Seeks Public Views on Future of Bitcoin

Indian govt has sought public views on digital currencies like Bitcoin
Govt has invited suggestions on its online discussion platform MyGov
Use of Bitcoins is increasing in India day by day

Should Bitcoin be banned, regulated, or subjected to self-regulation? The government has sought comments on this question from the public for deciding the viability of virtual currencies (VC) like Bitcoin.

The government has sought comments on this question from the public for deciding the viability or other wise of virtual currencies (VC) like Bitcoin.

Widening the scope of the debate on what is also referred to as Digital/Crypto Currencies, it has invited suggestions on its discussion platform MyGov, launched by Prime Minister Narendra Modi in July 2014.

The circulation of VC has been a cause of concern among central bankers the world over for quite a while now. It has been expressed in various forums from time to time. Reserve Bank of India had also cautioned the users, holders and traders of VCs, including Bitcoin. In March, the finance ministry had constituted an Inter-Disciplinary Committee to take stock of the present status of VCs both in India and globally and suggest measures for dealing with such currencies.