Govt to take balanced view on crypto

The government will take a balanced view on the issue of regulation of cryptocurrencies as they have suggestions on the country’s financial stability, Principal Economic Adviser Sanjeev Sanyal said on Monday. Right now, there are no specific guidelines or any restrictions on the use of cryptocurrency in the country.

The issue of digital money has not been covered in the Economic Survey 2021-22, Sanyal said in a communication with media on the Survey postponed in Parliament by Finance Minister Nirmala Sitharaman prior in the day.

“As you probably are aware, this involves some discussion, both inside the government, in the Ministry of Finance, and surprisingly in Parliament. Along these lines, this is the kind of thing that is as of now in discussion,” he said.

The Reserve Bank has likewise featured various issues, including the financial steadiness effect of such virtual currencies.

“There are some financial stability issues. Yet, there are additionally different contentions that are made as far as development thus on obviously a reasonable view on this will be taken,” he said.