Unregulated market, opacity in operations affecting crypto exchanges: CBDT
cnbctv18.comGovernment has listed the introduction of a new cryptocurrency regulation bill in the upcoming winter session of the parliament. The bill seeks to prohibit all private cryptocurrencies in India; however, it allows for certain exceptions to promote the underlying technology of cryptocurrency and its uses.In an exclusive interview to CNBC-TV18, JB Mohapatra, Chairman of CBDT said it is unclear whether cryptocurrency is an asset or commodity."The nature of asset or the nature of commodity for cryptocurrency is not defined yet.
There is apparently no regulation to manage the exchanges and the investment also. So under these circumstances the definitive view of the department will come through only when the regulation through the present bill is
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