Indian Government To ban All cryptocurrencies
New Delhi, 10/2 (AO Bureau): Finance Minister Nirmala Sitharaman made it clear on Tuesday that a high-level committee has suggested banning all virtual currencies in India. However, no ban will be imposed on the virtual currency issued by the government. The Finance Minister reiterated the government’s stand that cryptocurrency or legal tender or coin status will not be granted. All necessary steps will be taken to eliminate these crypto assets from illegal activities and payment systems. She said, ‘The central government is urgently exploring the potential of blockchain technology so that the digital economy can be taken to a new level.’
In the meantime, let us know what is a cryptocurrency and the governments of which countries are working in the field of digital currency. We will also know which countries other than India are exploring the possibilities of government digital currency.
What is cryptocurrency?
Cryptocurrency is a generic name for all types of virtual currencies. A unit of cryptocurrency is a highly complex digital code. This code cannot be copied. Like common currency, cryptocurrency is also used as an exchange medium. It is designed for digital assets. Let us also tell you that by Wednesday morning, bitcoin has reached a record level. Actually, electric car company Tesla announced two days ago that it will invest $ 1.5 billion in digital currency bitcoin. After this, the price of bitcoin has risen sharply.