Home » Anurag Thakur says that government will open for evaluation, will detect cryptocurrency
Business

Anurag Thakur says that government will open for evaluation, will detect cryptocurrency

The Finance Minister said that PM Modi himself is a strong advocate of adopting technology in various aspects of governance.

Union Minister Anurag Thakur said on Saturday that the government is open to evaluating and exploring new technologies, including cryptocurrencies, to improve governance.

Prime Minister Narendra Modi himself is a strong supporter of the adoption of technology in various aspects of governance, the Minister of State for Finance said while addressing an event organized by the entrepreneurs’ organization – EO Punjab.

“I say that we welcome innovation and new technology … Blockchain is a new emerging technology. Cryptocurrency is a form of virtual currency. I believe that we should always evaluate, explore new ideas with an open mind. And encourage, ”he said.

A High-Level Inter-Ministerial Committee (IMC) was constituted under the chairmanship of the Secretary of Economic Affairs on Digital Currencies and has submitted its report.

The government will decide on the IMC’s recommendations and the legislative proposal, if any, to be tabled in Parliament after the process, he said, inviting suggestions and on the issue.

Cryptocurrencies are digital or virtual currencies in which encryption techniques are used to regulate the generation of their units and to verify the transfer of funds, which operate independently of the bank.

Finance Minister Nirmala Sitharaman said on Friday that the government was still formulating its opinion on cryptocurrencies and would take a calibrated position.

Reserve Bank of India Governor Shaktikanta Das said last that the impact on financial stability in the Reserve Bank’s economy has some “major concerns” over cryptocurrency and has also made the government aware of this.

The RBI virtually banned cryptocurrency trading in 2018 and directed all entities regulated by the bank to stop working in virtual currencies. The Supreme Court had also asked the Center to formulate policies for cryptocurrency in 2019 and attacked the sanctions imposed by the RBI in 2020.

The Reserve Bank has, through various public notices on December 24, 2013, February 1, 2017 and December 5, 2017, related to various risks associated with such virtual currencies to users, holders and traders of virtual currencies, including bitcoin of virtual currencies did.

You have reached your limit for free articles this month.

Membership benefits included

Today’s paper

Get a mobile-friendly version of the article from the newspaper of the in an easy-to-read list.

unlimited access

Enjoy reading as many articles as you want without any limitations.

Personal recommendations

A selected list of articles that match your interest and taste.

Fast page

Move seamlessly between articles as our pages load instantly.

Dashboard

One-stop-shop to see the latest updates and manage your preferences.

Talk

We inform you about the latest and most important events three times a day.

Support quality journalism.

* Our digital subscription plans currently do not include e-paper, crosswords and print.

.

About the author

admin

Add Comment

Click here to post a comment