Govt panel examining pros, cons of official digital currency

A Government panel is examining all issues related to crypto currencies, including the pros and cons of the introduction of an official digital currency in the country.

Crypto currencies are not recognised as legal tenders in the country and the issue of allowing trading in such currencies is being examined by the government, Union Minister Anurag Thakur said Monday.

The Minister of State for Corporate Affairs told the Lok Sabha that no decision on licensing and authorising any entity or company to deal with Bitcoins or any other virtual currency has been made yet.

The issue of permitting trading in crypto currencies is under examination by the Government which has constituted an Inter-Ministerial Committee (IMC) under the chairmanship of Secretary, Department of Economic Affairs.