Indian Finance Minister Praises Blockchain but There's a Catch Blockchain is Good but Anonymity Factor a Risk, Says Indian Finance Minister

Hailing blockchain as “absolutely imperative,” Indian Finance Minister Nirmala Sitharaman asserted that the anonymity factor of this emerging technology is an “inherent risk,” and it calls for taking precautions. She, however, accepted that private cryptocurrencies such as bitcoin are “fairly well spread” in India.

Sitharaman clarified that the Indian government supports the use of distributed ledger technology , also known as blockchain, but as its usage grows in the future and becomes widespread, there is a need to be wary of the anonymity factor. “The anonymity is what … one unknown element in this whole thing.

On April 19, she took part in a panel discussion, “Money at a Crossroad: Public or Private Digital Money,” hosted by IMF, where sheA high taxation policy that came into effect on April 1, 2022, and a general non-cooperation from Indian banks have

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