"We're not going to shut it off all" - India on Crypto
Yesterday, at India Todat Conclave - South, India's Finance Minister Nirmala Sitharaman spoke on varied topics related to India's policies and strategies on trade, finance and economy on a whole. The subject ranged from some corporate issues to international legal arbitrations to Government's stance on retrospective taxes to cross-border trade with China to Atma Nirbhar Bharat scheme to 5G tech as well as to India's stance on cryptocurrencies.
FM was not timid to comment that India is not going to shut off all options towards cryptocurrencies. In fact, India has a lead advantage in fintech space and she want to take it up in a big way. Work on blockchain tech is in progress in several Indian States.
"On fintech, and on blockchain, there is a lot of work going on and we'll certainly encourage them"
The content of the cabinet note is almost complete and it will be taken to the cabinet as soon as it's complete.
A lot of Indian companies have already made a lot of progress in this space. After the Parliament session gets over, she intends to devote more time on the progress in Fintech. A startup meet is already planned specially for Fintech startups at Gandhinagar.
For catching her full wordings on cryptocurrencies and blockchain, please watch her in the following video from 30:50 for next 4-5 minutes.
I'm sure many of you will feel relieved by her passion and thoughts on crypto and fintech space.
Be positive!
Have a great day!
I remember the Gvt wanted farmers to use banks for trades when they abolished the largest banknote. Did farmers go to banks of maybe go to bitcoin ? When bitcoin some are very happy now!