SME Times News Bureau
The Centre has no proposal to recognise Bitcoin as a currency in the country, the Parliament was informed on Monday.
Minister Nirmala Sitharaman, in a written reply in the Lok Sabha, also
said that the government does not collect data on Bitcoin transactions.
Bitcoin is a form of digital currency which allows people to buy goods and services among others.
the ongoing winter session of Parliament, the Centre aims to table the
Cryptocurrency and Regulation of Official Digital Currency Bill, 2021,
through which it seeks a ban on all private cryptocurrencies.
At present, there is no regulation or ban in the country on cryptocurrency.
Reserve Bank of India has maintained its strong views against
cryptocurrencies, saying they pose serious threats to macroeconomic and
The central bank also doubted the reported number of investors trading on them and their claimed market valuations.