Govt plans framework to regulate cryptocurrencies by fiscal year-end

The government will come out with a framework to regulate cryptocurrencies by the end of this financial year, as it looks to clamp down on rapidly growing virtual currencies such as bitcoin.

“We hope that within this year, the committee would finalize its recommendations and then it would require legal changes, regulatory assignments, but certainly there will be regulations by the end of this financial year,” Subhash Chandra Garg, secretary, department of economic affairs, said at a CNBC TV18-Mint event on Budget 2018.

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Credits: livemint.com