An inter-ministerial committee headed by finance secretary Subhash Chandra Garg on virtual currencies has made the following recommendations: Banning of private cryptocurrencies by enacting a law and imposing fines and penalties for carrying on activities related to such cryptocurrencies. The committee has proposed a draft bill Banning of Cryptocurrency & Regulation of Official Digital Currency Bill, ..
Bitcoin or any other cryptocurrency cannot exist without computers, which in turn need electricity. The crux of the debate around environmental concerns of Bitcoin is that its mining consumes huge amount of electricity. Bitcoin Mining Bitcoin mining involves unlocking bitcoins by solving complex and unique puzzles; and adding transaction records to bitcoin’s public ledger of ..