The correct answer is Cryptocurrency.
In News
- RBI wants a full ban on crypto, legal experts say it is too late.
Key Points
- S. C. Garg Committee:
- It is related to Cryptocurrency. Hence option 1 is correct.
- Recommendations:
- Ban anybody who mines, hold, transact or deal with cryptocurrencies in any form.
- It recommends a jail term of one to 10 years for exchange or trading in digital currency.
- It proposed a monetary penalty of up to three times the loss caused to the exchequer or gains made by the cryptocurrency user whichever is higher.
- However, the panel said that the government should keep an open mind on the potential issuance of cryptocurrencies by the Reserve Bank of India.

