New Delhi, Jan 2 : Government does not consider cryptocurrencies, such as bitcoin and ethereum, legal tender and there is no protection against it, Union Minister for Finance Arun Jaitley informed the Rajya Sabha on Tuesday.
In response to Kanimozhi (Dravidra Munnetra Kaghazam) during Question Hour, Mr Jaitley said Government had set up a committee under the chairmanship of Economic Affairs Secretary which was deliberating all issues relating to cryptocurrency.
Government, he said, will consider what action to take after the recommendations of the panel are made available.
It will also take on board international experience in the matter as it was a global phenomenon.
Mr Jaitley said one of the features of cryptocurrency is that it there is lack of dependence on the State and it is operated by virtual community through hacking, blogs and whatsapp.
UNI
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