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Last Updated Sunday April 22 2018 06:25 AM IST

No cryptocurrency in Indian stock market, says govt

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cryptocurrency The finance ministry ruled out usage of cryptocurrency in Indian securities and commodities markets: Photo | Reuters.

New Delhi: Minister of state for finance Arjun Ram Meghwal Saturday ruled out policy measures in the immediate future to legalize introduction of cryptocurrency for security and commodities related transactions.

He added that a committee was set up by the finance ministry on the issue to weigh its consequences.

"The majority public view, however, on introduction of cryptocurrency in capital and commodities markets transaction is in the negative as of now. Even the parliament in the recent past has been flooded with questions on the issue," the minister said here at the annual convention on 'Capital market-vision 2020' organized by PHD chamber of commerce and industry.

When asked about removal of security transactions tax (STT) and commodity transactions tax (CTT) from the stock markets, he said that the issue would be taken up with the regulators in future.

India still requires to energize its capital market and create a facilitating environment by converting threats of capital markets into opportunities, he said.

Meghwal also sought suggestions for betterment of capital and commodities market by 2020.

Read more at: Latest in Nation | Anitha's suicide sparks protest in TN against state, central govts

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