Jaitley reiterated that government's stand on cryptocurrencies has still not changed and any virtual currency, such as Bitcoin, shall not be considered as legal tenders in the country. Government is still playing a waiting game, for the experts panel report to come out on the topic of cryptocurrencies.
Only after that government will make the next move— as a decisive step towards formally declaring their stand —on the topic. We will look into the report and then issue corrective measures after a thorough understanding of the situation. We will also take the global scenario into consideration. Jaitely further added, that the Indian government is waiting for the committee to come up with their detailed report, as they do not want to take any hasty decision without taking all the factors into account.
The committee— bitcoin not legal tender in india finance minister says the matter —is being headed by the Secretary of Economic Affairs Department. The Finance Minister further stated: Through multiple notifications, the bitcoin not legal tender in india finance minister says parties have notified the public time and again that bitcoins will not be considered lawful or legal tender in India".
Jaitely said that it becomes very difficult for the indian government to keep a tab on the terrorist and other delinquent activities, due to the anonymous nature of cryptocurrencies and how the money is being used.
Even before government had allegedly advised to close crypto trading in India. It functions with a degree of anonymity. It operates within a virtual community which is created and enjoys the trust of that virtual community". So, until the committee comes out with its complete report, the fait of cryptocurrency trading and traders, in India, hangs in the balance.
Your email address will not be published. Leave this field empty. Notify me of follow-up comments by email. Notify me of new posts by email. Monday, May 7, Neha Singh January 3, News 0. Neha Singh A cryptocurrency enthusiast who has spent around 5 years in the Software Industry.
A writer and an avid Blockchain technology geek. Leave a Reply Cancel reply Your email address will not be published.
What you do with your own money is your own responsibility. If you are running from a Linux machine and set up mongo in step 1, you should not have to modify anything. Scams: It also needs to be noted that trading bots can easily turn out to be scams. The parties to this Agreement are independent contractors, and neither has the power to bind the other or to incur obligations on the otherвs behalf.