Cryptocurrency won’t be considered legal tender by any form in India , says finance secretary TV Somanathan

  • Somanathan’s remarks come amid the backdrop of the Centre’s decision to bring a bill in the Winter Session of Parliament to regulate cryptocurrency and a crash in prices of some popular cryptocurrencies.
  • Cryptocurrency trading in India occupies a grey area until legislation covering it comes into effect.
  • They added that cryptocurrency will not be recognized as legal tender as this is dangerous for the currency and taxation system of the country.

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