On cryptocurrency, Sitharaman says ‘we have to be cautious but think it through’

Amid the growing hold of cryptocurrencies across the world and suggestions that India could develop its own digital currency, Union finance minister Nirmala Sitharaman said that such a decision has to be thought through. Citing the example of El Salvador, which adopted bitcoin as a legal tender, she said that the public took to the streets against the move.

“It’s not a question of literacy or understanding – it’s also a question of to what extent this is a transparent currency; is it going to be a currency available for everyone? El Savador may be an exceptional place where they tried some experimentation.