NEW DELHI: Bitcoins or such crypto-currencies aren't legal comfortable and those indulging in such transactions are doing it at their very own chance, Finance Minister Arun Jaitley mentioned lately as MPs expressed concern over trading on those platforms.
During the Question Hour in Rajya Sabha, DMK member Kanimozhi sought to know whether the government was once taking into consideration regulating crypto-currencies like Bitcoin and Ethereum, as India "accounts for more than 11 per cent" of such trade globally.
Jaitley emphasised that the Centre's consistent place was once that such currencies weren't legal comfortable.
"The government is examining the matter. A committee under the chairmanship of secretary, department of economic affairs, is deliberating over all issues related to cryptocurrencies to propose specific actions to be taken," he mentioned.
While a repeated message was once being given that such currencies weren't legal comfortable, extra detailed steps could be taken as soon as the file of the committee is submitted, he mentioned.
Independent member Amar Singh wanted to know what motion was once being taken in regard to the names that have figured in the Panama papers and Paradise papers, at the same time as trading in bitcoins was once also occurring.
Jaitley mentioned that the government was once acting as per the legislation in those issues.
During the Question Hour in Rajya Sabha, DMK member Kanimozhi sought to know whether the government was once taking into consideration regulating crypto-currencies like Bitcoin and Ethereum, as India "accounts for more than 11 per cent" of such trade globally.
Jaitley emphasised that the Centre's consistent place was once that such currencies weren't legal comfortable.
"The government is examining the matter. A committee under the chairmanship of secretary, department of economic affairs, is deliberating over all issues related to cryptocurrencies to propose specific actions to be taken," he mentioned.
While a repeated message was once being given that such currencies weren't legal comfortable, extra detailed steps could be taken as soon as the file of the committee is submitted, he mentioned.
Independent member Amar Singh wanted to know what motion was once being taken in regard to the names that have figured in the Panama papers and Paradise papers, at the same time as trading in bitcoins was once also occurring.
Jaitley mentioned that the government was once acting as per the legislation in those issues.
Trading in Bitcoin, Ethereum, other cryptocurrencies illegal, says Arun Jaitley
![Trading in Bitcoin, Ethereum, other cryptocurrencies illegal, says Arun Jaitley]()
Reviewed by Kailash
on
January 02, 2018
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