After Eco Survey, will FM's Budget also remain silent on cryptos?

economictimes.indiatimes.com:

While experts believe there are many reasons behind this, the primary among them is that there is yet to be a unilateral consensus inside the government, in the Ministry of Finance, and even in Parliament, they said. The ambiguity on legislation still hangs in the air, according to experts. It was expected that the Economic Survey will have nothing about the crypto industry as the government is still trying to figure out what crypto is and hence how it can impact, said Edul Patel, Co-founder and CEO, Mudrex. Though the industry does not expect the crypto bill to be put on the table in the budget session, we are hopeful that some cat will be out of the FM's bag, he added.

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The Reserve Bank of India (RBI) has also highlighted issues, including the financial stability impact of such virtual currencies. The government is also adopting a wait and watch stance. «The central bank has always been vocal about its concerns about private digital currencies, citing macroeconomic and financial stability issues,» said Raj A Kapoor, Founder, India Blockchain Alliance. The present Economic Survey may have omitted virtual currencies but has taken cognisance of the fact that they would need to plug in the gaps, separate the wheat from the chaff and ensure robust framework inputs before taking a giant stride in this direction, he added. A legislative framework for virtual currencies will also require amendment of some existing laws and the government awaits technical inputs and recommendations from the