Framework to regulate cryptocurrency soon

Govt likely to announce rules and regulations in the upcoming Budget

The government has decided to close the regulatory gaps to keep a check on cryptocurrencies, including bitcoin. According to sources, the government is likely to define cryptocurrencies and bring in a regulatory framework in the Union Budget 2018-19.
 
The sources said the government’s expert committee on cryptocurrency headed by Economic Affairs Secretary Subhash Chandra Garg had prepared a draft report, which talked about the definition of the digital currency and whether it would be classified as currency, capital assets or intangible assets. Earlier, the government had formed another panel to study the subject.
A government official privy to the