Waiting for Cabinet approval, says finance minister on bill on cryptocurrency

NEW DELHI: Finance minister Nirmala Sitharaman on Monday said she is awaiting an approval from the Cabinet on bill on cryptocurrency as the proposed legislation is before it.

The inter-ministerial panel on cryptocurrency under the chairmanship of secretary (economic affairs) to study the issues related to virtual currencies and propose specific actions has already submitted its report.

It has recommended that all private cryptocurrencies, except any virtual currencies issued by state, will be prohibited in India.

“Cabinet note is ready on cryptocurrency (Bill). I am awaiting Cabinet to clear that,” she said during her interaction with the media here.