Arun Jaitley Comment On Cryptocurrency

The Indian Govt. In his budget address today Finance Minister Arun Jaitley said the government will do everything in its power to clamp down on the use of Bitcoin and other cryptocurrencies in India.

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However Jaitley has announced that the government would adopt blockchain the technology that supports cryptocurrencies.

Arun jaitley comment on cryptocurrency. Wwwcrypto-newsin 01 February 2018 2335 UTC Reading time. As per media reports a parliamentary committee is setup to look into the future legality of bitcoins and cryptocurrencies. Finance Minister Arun Jaitley in his Budget speech for 2018-19 declared that the Indian government does not recognise cryptocurrencies as legal tender.

He asserted that the country doesnt see it as legal tender and will instead push for blockchain technology to be used. However he did point out that that Government does not consider cryptocurrencies as legal tender and will take steps to remove its involvement in illegitimate activities. With virtual currency gaining traction among investors Finance Minister Arun Jaitley on Thursday said that India does not recognise crypto currency as a legal tender.

Subscribe to our social networks. Jaitleys budget comments on cryptocurrencies and blockchain drew mixed reactions from the Indian industry. Finance Minister Arun Jaitley in his budget speech had said that cryptocurrencies are not legal tender and will take measures on their use as part of payment systems.

Cryptocurrency has had a good run but it might be the last we see of it here in India. On Thursday a budget speech by finance minister Arun Jaitley generated a tsunami of the Bitcoin party is over in India headlines adding to downward pressures on the cryptocurrency. As part of his announcement he said Cryptocurrency investors in India have to bear in mind that the government doesnt consider them legal tender.

Jaitley in no uncertain terms said The Government will take all measures to eliminate the use of crypto-assets in financing illegitimate activities. Cryptocurrency is not legal tender in India but the govt will explore blockchain to usher in the digital economy says Arun Jaitley while presenting Union Budget 2018. No ban on Crypto.

Finance Minister Arun Jaitley. This panel was tasked to examine the existing framework on digitalcrypto currencies both in India and globally. Blockchain and Cryptocurrency Committee BACC of IAMAI started this petition to Mr Arun Jaitley Finance Minister and 2 others Bitcoin is not illegal as per existing laws.

When asked whether the government has taken any decision on the cryptocurrency Jaitley said Recommendations are being worked at. Union finance minister Arun Jaitley in his Budget 2018 speech said that his government will take all measures to eliminate the use of crypto in financing illegitimate operations. Cryptocurrencies like Bitcoin are no-go for Indians Finance Minister Arun Jaitley made this amply clear in this Union Budget speech of 2018 earlier today.

Budget 2018 Centre will crack down on cryptocurrency says Arun Jaitley in Budget speech The virtual currencies are being used to sponsor illegal transactions the finance minister said. Instead the government will take all measures to eliminate the use of these cryptoassets in financing illegitimate activities or as part of the payments system Jaitley added. Finance Minister Arun Jaitley reiterates Government stance.

Arun Jaitley Indias finance minister said Thursday that the government does not view cryptocurrencies as a form of legal tender echoing comments he made late last year. The government does not consider cryptocurrencies as legal tender or coin and will take all measures to eliminate use of these cryptoassets in financing illegitimate activities said Arun Jaitley. Has not legitimised Bitcoin or any other cryptocurrency reaffirmed Finance Minister Arun Jaitley while responding to a query over cryptocurrency.

For people who have track Bitcoin and other forms of cryptocurrency in India the Union Budget 2018 speech by Finance Minister Arun Jaitley comes with. Finance Minister Arun Jaitley today said that India does not recognise cryptocurrency such as Bitcoin as legal tender. Back to the list Download the Crypto News app and get news about crypto and blockchain from various sources.

Some industry executives including operators of digital currency exchanges said Jaitleys statement doesnt mean trading of cryptocurrencies will be declared illegal and that all it means is cryptocurrencies cant be used to buy a product or pay for a service.

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