Rajeev Chandrasekhar, Deputy Minister of Information Technologies of India, said that using cryptocurrencies in India does not cause any problems.
The Indian government has been trying to bring comprehensive regulation to the cryptocurrency industry for several years. Central Bank of cryptocurrencies recommendations to ban However, a comprehensive legislation for cryptocurrencies has not been prepared yet.
The government, led by Prime Minister Narendra Modi, on Feb. 30%; for every transaction made with cryptocurrencies. 1% had a tax. After this tax is implemented in the first four monthstrading volume of cryptocurrency exchanges in the country fell 81%.
The new statement made by Deputy Information Technology Minister Rajeev Chandrasekhar is not as harsh as the statements made by the central bank.
Speaking at an event in Bengaluru, the Deputy Minister said, “As long as you follow the legal process, there is nothing currently banning crypto.” said.