wordpress blog stats
Connect with us

Hi, what are you looking for?

Government will adopt calibrated approach towards crypto-currencies: Finance Minister Nirmala Sitharaman

The government's proposed cyrpto-currency legislation will adopt a calibrated approach in order to allow innovation and experimentation in the space, even if there is a national digital currency."We are not closing our minds, we are certainly look at ways in which experimentations can happen in the digital world and crypto-currencies," Finance Minister Nirmala Sitharaman told CNBC TV-18 in an interview last week. Sitharaman said that globally, there is no clear approach towards crypto-currency regulations. However, with the world moving fast with technology, India should not stand to lose out, she said.. "A lot of negotiations and discussions are happening with the Reserve Bank of India, because the Supreme Court order is very clear that the government has to take a call on the matter. Obviously, the RBI will take a call on what type of official crypto-currency will be planned and regulated. But also we wnat to make sure there is a window available for all kinds of experiments which will have to take place in the crypto world. Therefore, it is not like we are going to look inwards. There will be a very calibrated position taken"—Finance Minister Nirmala Sitharaman Over the last month the crypto-currency industry in India has been thrown into a tizzy, ever since the government said it would introduce a new law which would ban “private” crypto-currencies. The government announced that it would introduce The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, which will ban “private” crypto-currencies while at the same time providing…

Please subscribe/login to read the full story.
Written By

Reports on banking, payments, fintech and crypto-curencies. Additional reporting on media regulations, data protection and other areas.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

India's smartphone operating system BharOS has received much buzz in the media lately, but does it really merit this attention?

News

After using the Mapples app as his default navigation app for a week, Sarvesh draws a comparison between Google Maps and Mapples

News

In the case of the ‘deemed consent' provision in the draft data protection law, brevity comes at the cost of clarity and user protection

News

The regulatory ambivalence around an instrument so essential to facilitate data exchange – the CM framework – is disconcerting for several reasons.

News

The provisions around grievance redressal in the Data Protection Bill "stands to be dangerously sparse and nugatory on various counts."

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ