According to the report of Indian internet media Quartz, the panel constituted by India’s finance ministry is considering bringing out its own cryptocurrency and support other cryptocurrency initiatives.
As it was also stated, during the discussion of the panel a senior government official proposed that India should implement the government-backed cryptocurrency and crypto-token, and encourage research and development of blockchain technology.
The finance ministry panel was set up in December 2017 under Subhash Chandra Garg, secretary, department of economic affairs. The main aim of the institute is to develop measures for cryptocurrency regulation.
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