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Inter-Ministerial Committee recommends ban on crypto-currencies in India

An Inter-Ministerial Committee has recommended ban on the crypto-currencies in India and imposing fines and penalties for carrying on any activities connected with it. 

The committee was constituted by the government in November 2017 to study the issues related to virtual currencies and propose specific action to be taken in this matter. 

The committee has also proposed that the Government keeps an open mind on official digital currency. 

Finance Ministry in a release said, the committee’s report, along with a Draft Bill has been received by the Government. 

It said, this report and Draft Bill will now be examined in consultation with all the concerned Departments and Regulatory Authorities, before the Government takes a final decision.

S - AIR

 
 
           
 
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