Formed by the Ministry of Finance of India, the Commission promised to present a bill on the regulation of bitcoin and other cryptocurrencies in December. This became known in the course of regular judicial proceedings between the representatives of kryptonyte and local authorities, writes Quartz.
“Currently, great efforts are being made to prepare the draft law on virtual currencies and the use of technology distributed registry in the financial system”, — said the representatives of the Commission.
The government of India is not the first time transferred the issue of bills on scriptactive. Initially, the government had to prepare a set of legal rules in July, but never did. Later, the representative of the Ministry of Finance said that the Supreme court of India will release its bills by September.
But at the end of October, the Supreme court asked the government to present their vision on the regulation of cryptocurrency in the next two weeks.
Later, at the meeting of the Council for financial stability chaired by the Indian Ministry of Finance inter-Ministerial body raised the issue of the prohibition of using “private” cryptocurrency.
Meanwhile, because of the restrictive government policies in respect of cryptocurrency, the leading bitcoin company in India Zebpay registered a new office in Malta.