Budget 2022: Economic Survey omits cryptocurrency

New Delhi, January 31

The government will take a balanced view on the issue of regulation of cryptocurrencies due to their implications on the country’s financial stability, the central government’s Principal Economic Adviser and lead author of Economic Survey Sanjeev Sanyal said here on Monday.

Admitting that the Survey did not comment on cryptocurrencies 2021-22, Sanyal justified the omission because “this is a matter of some debate, both inside the government, in the Ministry of Finance, and even in Parliament. So, this is something that is currently in discussion”.

“There are some financial stability issues. But there are also other arguments that are made in terms of innovation and so on….obviously a balanced view on this will be taken,” he added.

The Government was unable to introduce a bill on cryptocurrency during the Monsoon Session of Parliament as the Cabinet had not cleared the draft bill.