India’s Finance Minister holds meeting to discuss risks and involves bitcoin.


The Finance Minister of India has an interministerial meeting today to examine risks related to virtual currencies such as bitcoin.

According to local reports, Indian Finance Minister Arun Jaitley convened an interministerial meeting to discuss risks related to virtual currencies. The meeting was attended by several senior decision makers, including the Indian IT Minister, Minister of Economic Affairs, Secretary of Financial Services and other senior officials.

The information was first reported by the Press Trust of India (PTI), a non-profit news cooperative, the Finance Minister discussed “several concerns” related to bitcoin. The details remain scarce and there is no word on what these ‘concerns’ mean. However, no decisions were made regarding digital coins, according to a source of PTI.

As recalled in March, the Indian Ministry of Finance created an intergovernmental committee to research and propose a framework for the future of virtual currencies in the country. The committee has taken cues from existing regulatory and legal structures towards the digital currencies of countries like Japan and the United States. Towards the end of May, the government established a public forum to invite citizens to comment on virtual currencies. An overwhelming majority called for the legalization of digital coins in the country.

In this regard, the government’s latest official statement, through the central bank of India, called for caution when using digital coins, adding that any company that deals with “Bitcoin or any virtual currency” has no license or authorization to do so.

On the other hand, last week, an official of the Ministry of Finance was interviewed and said the following. “We have had five meetings and we have consulted all ministries, public, and interested parties (bitcoin exchanges). We will send the report by the end of July. ”

Despite calls from politicians against the legalization of cryptocurrencies, a report televised by CNBC India has stated that bitcoin is ready to win legality in India. The government is also looking to impose bitcoin adopters who will inevitably see laws and regulations promulgated in the future.

In summary, the users of India welcome the legalization of cryptocurrencies, especially to Bitcoin. This is a good opportunity to look for a decentralized currency that helps improve financial systems. New ads are expected.

Reference: cryptocoinsnews.com

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