Home Blockchain News India’s Bureaucracy is Sending Local Bitcoin Industry into a Sh**hole

India’s Bureaucracy is Sending Local Bitcoin Industry into a Sh**hole

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What would you call an organization that is sitting atop a game-changing regulatory framework for more than a year but couldn’t submit a single proposal nevertheless? Incompetent, perhaps. It is precisely what the Interministerial Committee (IMC) has become: an incompetent group of administrators and ministers that cannot decide what it wants to do with new technologies. Established by the Finance Minister Arun Jaitley in December 2017, the IMC was first told to submit its proposal in July 2018. But it kept delaying the matter, citing “lots of issues that need understanding” and “lots of studying” that needs to be done.

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