Post-budget 2018 Reaction Rashmi Deshpande, Associate Partner, Khaitan & Co

The announcement on the crypto currency by the FM should not be misinterpreted to mean the cryptocurrency is going to be discouraged by the Government. The intention is more likely to regulate the circulation to avoid its usage for illegal transactions. In addition, the Government has recognized the viability of block chain technology that powers cryptocurrency. Efforts should be made to bring in regulations at the earliest to achieve this aim.

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