No move to recognise Bitcoin as currency: Govt in Parliament

The government in its first terse statement on cryptocurrencies in Parliament said there was no move to recognise Bitcoin as a currency.

“No, sir,” finance minister Nirmala Sitharaman said in the Lok Sabha on Monday. She was replying to a question in the Lok Sabha on whether there is a proposal to recognise the virtual currency.

The Modi government plans to introduce the Cryptocurrency and Regulation of Official Digital Currency Bill 2021 in the Winter session which began on Monday.

Sitharaman also informed the House that the government does not collect data on bitcoin transactions. However, the government gave no indication about whether it would allow crypto transactions – and if so, in what form.