India’s Finance Minister: Cryptoassets cannot become currencies and has raised regulatory issues with the G20
Nirmala Sitharaman, India's Finance Minister, stated in response to whether the Indian government will reassess its stance on cryptocurrencies based on the rise in Bitcoin prices that the Indian government's position is that cryptocurrencies cannot be issued by the central bank as currency. Nirmala clarified that cryptocurrencies can be used for trading, speculation, profit, and various other purposes. In addition, Nirmala mentioned that India has raised the issue of cryptocurrency regulation with the G20 and believes that "some framework will emerge."
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