Nothing is crypto in India if legal procedures are followed, says government official

Indian government official Rajeev Chandrasekhar on Thursday expressed his views on crypto currency and shared his thoughts about it at an event in Bengaluru. Chandrasekhar is currently serving as both India’s Minister of State for Electronics and Information Technology and Minister of State for Skill Development and Entrepreneurship, serving both simultaneously and as a member of the Rajya Sabha, the upper house of Parliament. . He said in his statement that if all kinds of laws are followed then no problem will exist with crypto currency in India and according to Reuters report the same statement has come out. Chandrasekhar further says that as long as you follow all the legal process, nothing is going to happen that does not like crypto currency or is not seen in the interest of crypto currency and along with it, following the law We all have a moral responsibility which we must fulfil. He further added that no regulatory framework for cryptocurrencies has yet been set up by the Indian government and in December last year, the government had told Parliament that only with significant international cooperation could crypto legislation be effectively implemented. and it can go in a good condition. Apart from this, Indian Finance Minister Nirmala Sitaraman says that the government will specifically discuss the rules of gifts with G-20 countries and its complete planning is being done. Whereas in India till now a tax of thirty percent is proposed on the income generated from crypto which is imposed. Of course, they also deduct TDS charges of 1% on crypto transactions. Earlier this month, the government revealed that it is also launching a crypto awareness campaign, the use and meaning of which would definitely educate people about the pitfalls of crypto currency, as well as all aspects related to crypto currency. It has to be clarified as well as it has to be told that crypto currency is not valid in any way in India. now when we go ahead today
Meanwhile, India’s central bank, the Reserve Bank of India, had also sought and recommended a permanent ban on cryptocurrencies such as bitcoin and Ethereum. Shaktikanta Das, the current Governor of the Reserve Bank has also said many times that there is no inherent value in cryptocurrency and it does not guarantee any kind of security and with this we can say that due to various reasons and various Episodes are shared that the stance of the Reserve Bank is not at all good for cryptocurrencies and they consider it fatal for the economy. Certainly it should be said that when crypto currency behaves according to this law by following all types of laws located in India, then definitely crypto currency can reside in this place, otherwise there is no such sign visible. . The Reserve Bank has already blamed cryptocurrencies for inflation and all kinds of faults and at the same time what happens with cryptocurrencies in the G-20 meeting will be a topic to watch.


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