On June 27, Indian Finance Minister Mr. Arun Jaitley held private meetings with government officials to discuss Bitcoin regulation.
Government had formed an inter-disciplinary committee a few months ago to examine virtual currencies such as Bitcoin. Recently this committee had given a positive feedback about Bitcoin and suggested to form a task force committee.
This committee will now study Bitcoin and other virtual currencies with respect to How to regulate Bitcoins.
The government even asked citizens of India to give their feedback on Bitcoins via Mygov.in
Now, the Finance Minister of India, Arun Jaitley held an inter-ministerial meeting to discuss Bitcoin’s regulation.
The meeting was attended by :
- Economic Affairs Secretary Tapan Ray,
- IT Minister Ravi Shankar Prasad,
- NITI Aayog Vice Chairman Arvind Panagariya,
- Home Secretary Rajiv Mehrishi,
- Financial Services Secretary Anjuly Chib Duggal,
- and a variety of other Indian lawmakers.
Although Indian bureaucrats like Kirit Somaiya are skeptical of Bitcoins, the Finance Minister has asked fellow lawmakers and citizens in the past to embrace the digital age and prepare for a cashless “mission mode” after last November’s demonetization.
(Also Read: Demand for Bitcoins rises in India)
Media Headline’s says Bitcoin regulation may be adopted by offficials.
After the inter-didciplinary committee gave it’s review about Bitcoins and suggested it to regulate it, Bitcoin enthusiasts were positive about the cryptocurrency’s regulation.
CNBC Awaz, broadcasted that most of the committee members said they were in favor of regulatory guidelines for virtual currencies.
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It is now being believed that the Finance Ministry, and the Interdisciplinary Committee will be revealing the outcome of Bitcoin regulation soon.
Although no official decisions were made at Finanace Minister’s private event but “several issues concerning bitcoin were discussed.”
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