Parul
Crypto is back on the discussion table as Finance Minister Nirmala Sitharaman and Reserve Bank of India (RBI) Governor Shaktikanta Das deliberated over the issue.
The FM had announced in her Budget speech that the RBI will launch a blockchain-based digital currency next year. The government also proposed to tax digital assets.
“Finance Ministry and Reserve Bank of India (RBI) are partners, not just on crypto but also on every other thing as well, I think there’s complete harmony with which we’re working, respecting each other’s domain also knowing what we’ve to do with each other’s priorities and in the interest of the nation,” said FM Nirmala Sitharaman during the Press conference after addressing the RBI board.
Sitharaman said, “RBI is very much on board on Cryptocurrency. Before making any decision, govt or RBI, we discuss the issues, and after that decision is taken. We’re all discussing prior to the budget discussion and we should continue to have the discussion and all decisions which have been taken. It’s a digital currency from the Central Bank, what sort of shape and color, some description, so obviously both of us have had enough consultations. We are in the process of consultation.”
Responding to a question on cryptocurrency, Finance Minister said, “I made it clear that whatever the government does, we consult, have discussions with RBI. If I were to tax 30 per cent and then also to discuss GST and everything else. The discussions which I had with RBI are gradually and steadily, RBI is always on board. Not just on the crypto, but on every other thing as well Finance Ministry and RBI are on board. I think in the last few years you would have noticed that there is complete harmony with which we are working, respecting each other’s domain also knowing what we have to do with each other, priorities, and in the interest of the nation,”
“If you observe what has been happening in the last few years, I’m sure it is easy to infer that there is some level of partnering with each other (Finance Ministry and RBI) that is happening. Whatever decision the government is going to take on crypto, will be after the consultation with RBI,” added the Finance Minister.
RBI Governor Shaktikanta Das said,” Like several other issues, cryptocurrency is internally under discussion between RBI and Government. Whatever points we had, we have discussed with the government.”
