The Deputy Minister of Information Technology of India stated that, subject to compliance with all laws, there will be no problems with cryptocurrencies in the country.
Rajeev Chandrasekhar has released a statement that is completely at odds with the country’s central bank, advising investors to stay away from any cryptocurrency projects.
The official expressed confidence that the Reserve Bank (RBI) proposed a complete ban on crypto assets in the first place because the government and the regulator itself have not yet been able to develop adequate legislation. But if a ban is introduced, “smothering the growth of digital assets will undoubtedly slow down the country’s technological progress.”
The Central Bank has actually introduced a regressive tax policy in relation to any activity related to cryptocurrency and any private digital assets. RBI Governor Shaktikanta Das has called for a total ban on cryptocurrencies due to their potential speculative nature.
Part of the position of Rajiv Chandrasekhar confirms the speech of the Deputy Governor of the RBI Sankara Rabi (Rabi Sankar). The Deputy Governor said that the lack of uniform rules for providing data does not allow investors and supervisory authorities to receive reliable information about the real state of the crypto industry.
Source: Bits
I am an experienced journalist, writer, and editor with a passion for finance and business news. I have been working in the journalism field for over 6 years, covering a variety of topics from finance to technology. As an author at World Stock Market, I specialize in finance business-related topics.
