Indian finance minister Nirmala Sitharaman said on Tuesday the government will discuss its position on cryptocurrencies after completing an ongoing consultation process.

See related article: India government, central bank in ‘complete harmony’ on crypto: FM

Fast facts

  • However, both the Reserve Bank of India and the government have clarified that taxation doesn’t necessarily mean legalization, leaving the entire industry craving for clarity. 
  • The Supreme Court of India followed up by seeking clarification from the government on the legality of cryptocurrencies in the wake of surging Bitcoin scams.

See related article: India FM: RBI to issue blockchain-based digital rupee