Government may take some big decision on Cryptocurrency, Bitcoin, Solana, Ether

Cryptocurrency market has increased rapidly over the years. In some countries, regulations are being made about this segment. The central government’s stand on cryptocurrency in India has been strict. There has also been a demand by the Reserve Bank of India (RBI) to ban this segment.

Economic Affairs Secretary, Ajay Seth told That the government’s stance on cryptocurrency is being reviewed. He said, “Some countries have changed their attitude in terms of use of cryptocurrency, their acceptance and importance. We are reviewing the discussion paper again.” He said that there are no borders for such assets and due to this India’s attitude cannot be unilateral.

Recently, the US Securities and Exchange Commission (SEC) had reported that a task force has been formed with the objective of creating a regulatory framework for cryptocurrency. Trading has increased in Cryptocurrency despite more taxes in India. The country’s Financial Intelligence Unit (FIU) had given show cause notices to some foreign crypto exchanges for not following the rules. In June last year, the binance included in large crypto exchanges was fined more than $ 2 million. After this, Binance had registered with FIU to resume its business in the country.

The RBI warned about cryptocurrency. Along with this, cryptocurrency was also described as a big risk for financial and monetary stability. Last year, former RBI Governor Shantikanta Das said, “I believe it should not be allowed to dominate the financial system. This is a big risk about financial stability. The banking system is also risk from cryptocurrency. The situation can create a position in which the control of the central bank on the supply of funds in the economy may end. ” He said, “How will the liquidity available in the system be assessed due to lack of control of the central bank on the supply of funds in the economy?” Das had said, “We see Crypto as a big threat. International understanding should be made for this because these transactions are also out of the country.” Along with this, RBI also reiterated the demand for banning cryptocurrency.