The Indian government is getting more serious about using blockchain technology into the growing digital economy of the country. But this does not mean it is going soft on cryptocurrencies.“Distributed ledger system or the block chain technology allows organization of any chain of records or transactions without the need of intermediaries,” said finance minister Arun Jaitely while presenting the Union Budget 2018-19 in Parliament on Thursday.“The Government does not consider crypto-currencies legal tender or coin and will take all measures to eliminate use of these crypto-assets in financing illegitimate activities or as part of the payment system. The government will explore use of block chain technology proactively for ushering in digital economy.”
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