India to take a considered view on crypto: Nirmala Sitharaman

04/27 15:51

Flagging concerns over likely misuse of crypto, Finance Minister Nirmala Sitharaman has said India will take a considerate decision on regulation around the virtual currency. "It will have to take its time...all of us to be sure that at least with a given available information, we're taking the decern decision. It can't be rushed through," she said. The minister clarified that the government is open to promote innovation and well-grounded progress made in the distributed ledger technologies, which are coming in the blockchain. "So, our intention is in no way to hurt this (innovation around crypto)...but (we need to) define for ourselves...," she said. Cryptocurrencies can also be manipulated for money laundering or terror financing, the minister noted. So, these are some of the concerns, not just India, but many countries of the world have and are also discussed in global, multilateral platforms, she added.

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