Crypto transactions should be recognised as asset class, regulated centrally: RSS body

The RSS-affiliated Swadeshi Jagaran Manch has said that the government should bring a law to recognize cryptocurrency transactions as an “asset class” and regulate it.

Speaking to PTI, Swadeshi Jagaran Manch (SJM) co-convenor Ashwani Mahajan suggested that the government should also ensure that data and hardware, which is used in mining, processing, and transacting of the cryptocurrencies, stay at domestic servers.

It will help the government unearth illicit transactions and take action against them, he added.

“At present, anybody from anywhere in the world can invest in it through private exchanges run by private entities. And the worse is, cryptocurrencies are not controlled by any central authority,” he said when asked for his views on cryptocurrencies.