OK, so crypto ain't legal tender. So?
If it is stated that a man hasn't raped a woman, it doesn't imply that the man had a consensual sex with that woman. May be, he didn't had any sexual intercourse at all!
Sorry to put it like that but the point is nobody ever said that crypto was meant as legal tender.
Crypto ain't legal tender.
But it doesn't imply that crypto is illegal.
Neither gold or silver or stocks is a legal tender for that matter!
So what?
Well, I don't know what the Government is trying to convey.
Amidst the news of Indian government's introduction of Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 which is currently listed at No. 12 out of 20 new bills to be presented in the current Budget session of the Parliament; yesterday we received some more information that portrays Government's intention to some extent.
In the Upper House of Parliament, Rajya Sabha, M.P. Mr. Sanjay Raut put up a few questions to the Minister of Finance regarding introduction of India’s own cryptocurrency.
Yesterday, Mr. Anurag Singh Thakur, Minister of State in the Ministry of Finance replied to these questions referring to the Budget speech of 2018-2019 that the Government does not consider crypto-currencies legal tender.
To the question "whether Government is considering the possibility of introducing India’s own cryptocurrency", he replied it in negative. But he also added that the government will explore use of the blockchain technology proactively for ushering in digital economy.
You can check the complete response to the questions put on the official website here
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