Bitcoin prices are making new records every day. For the last few months, this cryptocurrency has been in constant discussion about creating new records. The RBI and the government have also expressed their opinion about this currency. But Finance Minister Nirmala Sitharaman has put an end to those speculations that it was being banned in India.
While addressing a conclave, when Finance Minister Nirmala Sitharaman was asked about the banning of this currency, she made it clear that the government has not stopped any options regarding cryptocurrency and fintech at the moment.
Cabinet will give complete information
Nirmala Sitharaman says about the cryptocurrency including bitcoin, that the cabinet is preparing a draft about it. Nirmala Sitharaman says that the government has not stopped all its options yet. Once the draft is prepared by the cabinet, the whole picture will be clear.
The final decision of RBI
The Finance Minister says that the final decision on cryptocurrency will be taken by the Reserve Bank of India. Different aspects are being considered regarding this issue. The Reserve Bank is considering how to approve unauthorized cryptocurrency and how to regulate it. We are ready for every kind of experiment in this regard.
RBI has said ban
However, the government is definitely saying that the final decision to stop bitcoin will be made to the RBI. But RBI has earlier said to bring its digital currency. In the booklet issued by RBI on January 25 this year, it was said that the government is careful about cryptocurrency and the risk that comes with it. But at present, the option of digitization of currency is being thought of. Cryptocurrency is a decentralized payment system. This means it is not regulated by any central bank like traditional currency. Because of this, it is a matter of concern for central banks like RBI. Like the RBI, the European Central Bank was also warned against cryptocurrency.