Decision on banning or not banning crypto to come later, says FM Sitharaman
Zee News
Sitharaman said, "I am not going to legalise it or ban it at this stage. Banning or not banning will come subsequently, when consultations give me input".
New Delhi: Finance Minister Nirmala Sitharaman on Friday said the government has sovereign right to tax profit made from cryptocurrency transactions, and the decision on banning or not banning will be taken based on feedback from consultations.
Replying to the general discussion on Union Budget, the minister said, "I am not going to legalise it or ban it at this stage. Banning or not banning will come subsequently, when consultations give me input".
About the profit emanating from transactions in cryptocurrencies, she stated that "(Whether it is) legitimate or illegitimate, it is a different question, but I will tax because it is a sovereign right to tax".
