The government of India has informed Lok Sabha, the lower house of parliament, about the Ministry of Corporate Affairs’ inspection of cryptocurrency businesses. Minister of State for Finance and Corporate Affairs Anurag Singh Thakur provided details of two companies in particular. This follows the landmark ruling by the country’s supreme court which quashed the banking ban imposed by the central bank, the Reserve Bank of India (RBI).
Also read: Bitcoin Legal in India — Exchanges Resume INR Banking Service After Supreme Court Verdict Allows Cryptocurrency
Ministry of Corporate Affairs Inspects Bitcoin Companies
Minister of State for Finance and Corporate Affairs Shri Anurag Singh Thakur answered several questions in Lok Sabha on Monday regarding the government’s inspection of bitcoin companies. He specifically mentioned two crypto businesses: Zeb IT Services Ltd. and Unocoin Technologies Ltd.
According to Lok Sabha’s record, the questions concern “fraud by bitcoin companies.” Particularly, Thakur was asked about companies dealing…