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 161 days ago
 Source: inc42.com

Sitharaman Says Other Nations Agree With India On Cryptocurrency Stand

Quick Summary

According to a PTI report, Reserve Bank of India (RBI) governor Shantikanta Das spoke about India’s concerns regarding cryptocurrencies at one of the interventions at the meet. Facebook’s Libra Project Under ScrutinyThe finance minister also added that Facebook’s controversial cryptocurrency project Libra was one of the hot topics at the annual meeting. Moreover, she added that cryptocurrencies come with the scope of terror funding and other illegal activities. India’s Ban On Bitcoin, CryptocurrencyIndia has officially banned cryptocurrency and other crypto assets in the draft bill, and is currently looking to pass “Banning of Cryptocurrency and Regulations of Official Digital Currency Bill, 2019”. The bill also proposed that cryptocurrencies holders will be mandated to declare and dispose of it within 90 days from the date of commencement of the act.

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