A high-level committee suggested that all the private cryptocurrencies, except any virtual currencies issued by state, will be prohibited in India, finance minister Nirmala Sitharaman said on Tuesday.
In a reply to a question in Rajya Sabha whether central government is planning to issue strict guidelines on cryptocurrency trading, Sitharaman said, "A high-level Inter-Ministerial Committee (IMC) constituted under the Chairmanship of Secretary (Economic Affairs) to study the issues related to virtual currencies and propose specific actions to be taken in the matter recommended in its report that all private cryptocurrencies, except any virtual currencies issued by state, will be prohibited in India." ( with agency inputs)
