The government of India is exploring the possibility to produce their own national cryptocurrency. It is reported by local media of Quartz India.
Your source of the publication does not disclose, however, that this “senior official”. It is reported that the government has established a working group which will discuss issues related to cryptocurrency and blockchain. The authorities intend to encourage the study of distributed registries, and the launch of its own national cryptocurrency is considered as one of possible variants of the use of technology.
In addition, the working group will discuss a new amendment to an existing bill on the cryptocurrency. So, one of the proposed amendments provides that any storage means in the digital currency without the knowledge of the government is a punishable crime.
According to Quartz, the working group was created in December 2017 Ministry of Finance of India to address issues relating to the regulation of cryptocurrency in the country. The organization must submit its report by the end of 2018.
In September it became known that the question of creating its own digital currency examines Central Bank of India (RBI). Discussion the special Committee lasts more than a month, however, despite the interest of the Central Bank, the country still operates a ban on the provision of banking services in any legal entities and physical persons dealing with the digital currencies.
Recall that the first country that issued a state cryptocurrency, has become Venezuela. In addition, the possibility of creating a government digital currency considering Iran and China.