Cryptocurrencies:
The corporate affairs ministry has announced companies will have to disclose any holding or dealings in cryptocurrencies or virtual currencies in their financial statements filed with the Registrar of Companies.
- This is a major step towards regulating the crypto assets in India and will bring in a lot of transparency in reporting/filing of crypto investments So far, the government was planning to ban them.
- Cryptocurrencies are digital currencies in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank
