- Govt plans to bring a bill, cryptocurrencies to be treated as commodity
- https://economictimes.indiatimes.com/news/economy/finance/virtual-currencies-govt-plans-to-bring-a-bill-cryptos-to-be-treated-as-commodity/articleshow/85885645.cms
September 10, 2021
- RBI Governor Shaktikanta Das expresses 'serious concerns' on financial stability of cryptocurrency
- https://www.moneycontrol.com/news/business/have-serious-major-concerns-on-cryptocurrency-says-rbi-governor-shaktikanta-das-7450371.html
What is going on?
Good one! But it is indeed true that government departments usually do not coordinate with each other. I can guarantee this from my 2 years experience of government project. But here the case is little different.
RBI is not directly linked to finance Ministry. RBI can take their own decisions without going through FM as they are the controller of banking system. But when it comes to policy and non-related to banking, FM must step in.
But one thing I can assure you, FM will definitely consult RBI before putting the bill on the table.