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Centre Plans to Ban Cryptocurrencies on its Payments System

February 08, 2018

Centre Plans to Ban Cryptocurrencies on its Payments System

An official from the finance ministry said that the government is planning to bar the cryptocurrencies on its payments system in a bid to make it illegal within the country. He also said that talks are ongoing regarding appointing a regulator for overseeing unregulated exchanges of the “crypto assets”.

Economic Affairs Secretary S.C. Garg said that a panel has been established to look into the issues related to the cryptocurrencies and asked to submit a report by the end of the current fiscal that ends on March 31st.

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