https://www.taxtmi.com/news?id=21768 The Inter-Ministerial Committee recommends prohibition of activities connected with private cryptocurrencies and proposes fines and penalties for such activities, while endorsing use of distributed-ledger technology in financial services. The Committee also proposes that the Government keep an open mind on an official digital currency and suggests establishing a Standing Committee to revisit these issues; a Draft Bill on banning cryptocurrencies and regulating an official digital currency has been submitted for inter-departmental consultation. en-us Mon, 22 Jul 2019 17:34:45 +0530 Mon, 22 Jul 2019 17:34:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=21768 The Inter-Ministerial Committee recommends prohibition of activities connected with private cryptocurrencies and proposes fines and penalties for such activities, while endorsing use of distributed-ledger technology in financial services. The Committee also proposes that the Government keep an open mind on an official digital currency and suggests establishing a Standing Committee to revisit these issues; a Draft Bill on banning cryptocurrencies and regulating an official digital currency has been submitted for inter-departmental consultation. News - Mon, 22 Jul 2019 17:34:45 +0530 https://www.taxtmi.com/news?id=21768