Consultation paper on crypto almost ready; to be submitted soon: DEA Secy

The government will soon finalise a consultation paper on cryptocurrencies with inputs from various stakeholders and institutions, including the World Bank and the IMF, Economic Affairs Secretary Ajay Seth said on Monday.

He also underlined the need for a global response to deal with issues concerning cryptocurrencies as these operate in the virtual world.

The Reserve Bank of India (RBI) on many occasions has expressed its reservation about such virtual currencies citing a threat to macroeconomic stability.

Speaking on the sidelines of the curtain raiser event of ‘Iconic Week’ as part of Azadi Ka Amrit Mahotsav to be celebrated by the Finance Ministry, Seth said the consultation paper is fairly ready.