Cryptocurrencies Should Be Banned, Says Former Indian Gov’t Official

News, Regulation | March 13, 2018 By:

Shaktikanta Das, former Secretary of Economic Affairs of India, said that cryptocurrencies should be banned since regulating them would be a tough task.

In an interview with Quartz India, Das, who is currently a member of the 15th Finance Commission, said that there is no way to regulate cryptocurrencies “effectively,” and that is why India would be better off prohibiting them altogether.

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India May Regulate Bitcoin By The End Of March

News, Regulation | February 6, 2018 By:

The government of India is set to regulate bitcoin and other cryptocurrencies, said Economic Affairs Secretary Subhash Chandra Garg.

The news came after India’s finance minister Arun Jaitley said the government does not recognize cryptocurrency as legal tender or coin, and will take all measures to eliminate the use of these crypto-assets in financing illegitimate activities or as part of the payment system.

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India’s Finance Minister Arun Jaitley Wants To Eliminate Bitcoin

Announcements, News, Regulation | February 2, 2018 By:

India’s finance minister Arun Jaitley said that the government will take the necessary steps to eliminate cryptocurrency’s use in the payment system.

In his annual budget speech, the finance minister said the government does not recognize cryptocurrency as legal tender or coin, and will take all measures to eliminate the use of these crypto-assets in financing illegitimate activities or as part of the payment system.

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