Sitharaman Says There Is No Proposal To Recognize Bitcoin As A Currency

Sitharaman says there is no proposal to recognize Bitcoin as a currency

New Delhi, Nov 29, : , The Centre has not proposed to recognize Bitcoin as a currency within the country, according to the Parliament.This was reported Monday.
In a written response to the Lok Sabha, Nirmala Sitharaman, Finance Minister, stated that the government does no collect data about Bitcoin transactions.

 Sitharaman Says There Is No Proposal To Recognize Bitcoin As A Currency-TeluguStop.com

Bitcoin is a digital currency that allows people to purchase goods and services from other people.

The Centre will present the Cryptocurrency Regulation of Official Digit Currency Bill 2021 to Parliament during the winter session.This bill seeks to ban all private cryptocurrencies.

At the moment, cryptocurrency is not subject to any regulation or ban.

The Reserve Bank of India continues to be strongly against cryptocurrency, claiming that they pose serious threats for macroeconomic stability and financial stability.

The central bank also doubted their market valuations and the reported number of investors trading on them.

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