24/05/2017
Last week, the Indian government established an inter-disciplinary committee to examine the framework for virtual currencies in the country. The committee was installed by the Ministry of Finance, the country’s financial regulator, citing ‘concern’ with the growing adoption of cryptocurrencies in India.
According to today’s CNBC report, that committee has heard discussions about the legality of bitcoin and virtual currencies in India. The report also suggests that the committee is veering toward legislation of the cryptocurrency in India.
Loosely translated, the news report in its entirety is as follows:
Host: The Government wants to give Bitcoin a legal status in the Country. The law wants to levy taxes on it.
