No Issue with Crypto if Rules are Followed: India’s MoS IT

No Issue with Crypto if Rules are Followed: India's MoS IT

Indian Union Minister of State for Skill Development and Entrepreneurship and Electronics and IT, Rajeev Chandrasekhar, stated there is no issue with crypto if the rules are followed while speaking at the ITech Law International Conference 2023 held in Bengaluru.  

The MoS stated “There is nothing today that outlaws crypto as long as you follow the legal process. If you want to invest in crypto, make sure you go through the RBI, get your LRS eligibility, and the dollars as per rules.”

Chandrasekhar added, “India will lead the world in all things blockchain- both in size and scale and how we migrate to web 3.0.” 

A few days back, RBI governor Shaktikanta Das said there is no underlying value in crypto and crypto is nothing but gambling. Das said that although crypto needs to be banned, blockchain technology needs to be fostered due to its wide range of applications.

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