FM snubs cryptocurrencies, no mention in Budget 2019

The much-debated cryptocurrencies did not find any mention in finance minister Nirmala Sitharaman’s maiden budget speech, as anticipated by various stakeholders in the industry.
Experts tracking the space said its not bad news for the industry since it could mean the government is taking time to understand the importance of this currency, and may not rush into taking a decision anytime soon.
“I’m happy that there was no hasty crypto-related announcement. Since our FM and PM were involved in the recent G20 meetings where the FATF crypto standards were shared with all the participating nations, I’m sure India is on its way to bring about a positive change in crypto regulations,” said Nischal Shetty, founder of crypto exchange WazirX.