India not shutting off all options on cryptocurrency: Nirmala Sitharaman
New Delhi, Mar 15: India is not shutting off all options when it comes to cryptocurrency or blockchain and fintech, Union Finance Minister, Nirmala Sitharaman said.
Speaking at the India Today conclave, she said that a Cabinet note is being prepared on the issue which will give full details of the formulation of cryptocurrency in India.
"My view on this is that of course the Supreme Court had commented on cryptocurrency and while the RBI may take a call on official cryptocurrency but from our side, we are very clear that we are not shutting off all options," Sitharaman also said.
"A Cabinet note is being prepared. It's almost nearing completion and then it will be taken to the Cabinet... we will allow a certain amount of window for people to experiment on blockchain and bitcoin.
However, the what formulation of cryptocurrency will be part of the Cabinet note which will get ready soon,"the finance minister also said.
"Once Parliament is over, I will probably spend more time executing and planning that. On fintech and blockchain, there is a lot of work going on in India and we will certainly encourage that," Sitharaman said.