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Parliamentary committee to hold meeting with top stakeholders of crypto industry

15/11/2021 at 1:03 PM

New Delhi, Nov 15: A parliamentary committee on finance is likely to hold a closed-door meeting with top stakeholders of the crypto industry on Monday.

Investors from top crypto exchanges, members of the block chain and Crypto Assets Council (BACC) will be among the attendees.

Prime Minister Narendra Modi headed a meeting on the way forward for crypto currency amid concerns over its misleading claims of huge returns on investment a few days back.

Following this, the committee has invited industry stakeholders to formally have a discussion on the industry for the first time.

According to reports, the government made a consensus that attempts to mislead the youth through over-promising and non-transparent advertising have to be stopped.

RBI Governor Shaktikanta Das has reiterated his views against allowing cryptocurrencies saying they are a serious threat to any financial system since they are unregulated by central banks.

Worth mentioning, the Supreme Court in early March 2020 nullified the RBI circular banning cryptocurrencies.

Following this on February 5, 2021, the central bank had formed an internal panel to suggest a model for the central bank’s digital currency.

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