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No proposal to recognise Bitcoin as a currency: FM Nirmala Sitharaman
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business-standard.comUnion Finance Minister Nirmala Sitharaman informed the Lok Sabha on Monday that there is no proposal before the government to recognise Bitcoin as a currency. In a written reply in the Lok Sabha, Sitharaman said the government does not collect data on Bitcoin transactions.
To a question on whether the government has any proposal to recognise Bitcoin as a currency, Sitharaman said, “No, sir”. Bitcoin, a digital currency introduced in 2008 by programmers as a cryptocurrency, allows people to buy goods and services and exchange money without involving banks, credit card issuers or other third parties.
The government plans to introduce a Bill in this regard — the Cryptocurrency and Regulation of Official Digital Currency Bill 2021 — in the
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