Parliamentary panel discusses crypto finance

A parliamentary panel, chaired by BJP leader Jayant Sinha, on Monday discussed the pros and cons of crypto finance with various stakeholders, and several members were in favour of regulating crypto currency exchanges rather than imposing an outright ban on crypto currencies, according to sources.
The meeting took place against the backdrop of rising concerns in various quarters about crypto currencies and the possible risks emanating from trading in them, especially since there is a growing interest in such assets worldwide. Currently, there are neither specific regulations nor an outright ban on use of crypto currencies in the country.
Representatives of crypto exchanges, Block chain and Crypto Assets Council (BACC), industry bodies as well as academicians and other stakeholders submitted their views before the panel, whose meeting also happened days after Prime Minister Narendra Modi held discussions with senior officials from various ministries and RBI on the issue of crypto currencies.