The Indian finance minister has finally revealed clues about what is in the cryptocurrency bill that is due to be introduced in parliament. Mentioning no crypto ban, she said that the government will take “a very calibrated” approach to cryptocurrencies.
Indian Finance Minister Provides Clues on Upcoming Crypto Regulation
Indian Finance Minister Nirmala Sitharaman shed some light on the upcoming crypto regulation in her country during CNBC-TV18’s IBLA townhall Friday. This is the first time she talked about the content of the bill and the Indian government’s plans on regulating cryptocurrencies since the bill was listed to be introduced in parliament.
“On the cryptocurrency, yes a lot of negotiations [and] discussions are happening with the Reserve Bank because the supreme court order had very clearly told that the government has to take a call on the matter. We are talking with the Reserve Bank,” she confirmed. “Well, I am not sure, much before the cabinet takes a call on it, I want to give you any clues about what is in it.”
She continued: “Obviously, the Reserve Bank will be taking a call on how, what kind of an official currency, cryptocurrency, will have to be planned and how it has to be regulated, but also we want to make sure that there is window available for all kind of experiments which will have to take place in the crypto world.” The finance minister emphasized:
And therefore, it’s not as if we are going to look inwards and say no we are not, you know, going to have any of this. There will be a very calibrated position taken.
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