The Finance Minister denied rumors of bitcoin's legitimization at a Parliamentary meeting

​India is not going to recognize bitcoin as a legal tender

29.11.2021 - 11:30


1 min

What’s new? At the meeting of India's Parliament, Finance Minister Nirmala Sitharaman said: “There is no reason to recognize bitcoin as a legal tender.” Previously, it had been suggested that the country could legalize the virtual asset.

What else did the Finance Minister say?In addition, the Minister told Parliament that “the government does not collect data on bitcoin transactions.” This is an important statement, given that the authorities have previously called for centralized regulation of cryptocurrency.

What statements were made during the meeting? The opposition recently accused the ruling party and the Indian Prime Minister Narendra Modi of “covering up the bitcoin scam.” During the Parliamentary session, the Prime Minister's representative commented on this issue, stating:

"Information in the public domain informs that a case of cybercrime involving bitcoins has been under investigation by the Karnataka police.”

The government also added that the law enforcement agencies have already taken legal actions in accordance with the legislation.


Vasiliy Smirnov Vasiliy Smirnov

Subscribe to Getblock Magazine and stay up to date with the latest news from the world of cryptocurrencies and the digital economy