Govt Does Not Know The Number Of Crypto Exchanges: Sitharaman

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SUMMARY

Speaking at Rajya Sabha, finance minister Sitharaman stated that no information is available with regards to the number of crypto exchanges in the country

The minister also denied having any information regarding the involvement of crypto exchanges in money laundering and narcotics drug trafficking

The minister had earlier claimed that a lot of work with regards to the draft crypto bill has already been done

In contrast to what finance minister Nirmala Sitharaman claimed in media that ‘a lot of work’ with regards to the draft crypto bill ‘has already been done’, the unpreparedness of the Indian government pertaining to the Indian crypto industry can easily be understood by its responses in the parliament.

When asked in Rajya Sabha, the upper house of the parliament, Sitharaman has stated that there is no information related to the number of crypto exchanges in the country. The finance minister has also denied any information regarding any crypto exchanges’ involvement in money laundering scams and narcotics drug trafficking.