The Government of India discusses the legalization of cryptocurrencies

The interdepartmental committee created by the Indian Parliament to study the regulation of cryptocurrency was for its legalization on hard control.

A high-ranking official present at the two meetings told the Indian publication New Indian Express that during the meetings the participants opposed the plans to the authority to recognize the virtual currency illegal means. The Committee believes that cryptocurrency needs to legalize and establish a rigid regulatory control over this area of activity. There is still no final decision on this issue, the discussion will continue.

The main task of the Committee is to study the current regulatory framework related to cryptocurrency, and the development of solutions for the protection of consumer rights, combating corruption and similar problems in this direction. It consists of representatives of the Central Bank of India, the Statements responsible for economic and fiscal policies, and other structures.

In addition to internal discussion, officials study the views of cryptoch and experts, and also cooperate with the Ministry of Justice. It is expected that the Committee will present its report of the Ministry of Finance of the country by February 2019.

Previously

Meanwhile, the world’s largest banks begin to use virtual currency in their products. Japanese financial giant