China and the UAE have strong firewalls, while India is still studying regulatory options, the government presentation shows. “We are now storing more and more citizens’ data,” said Neeta Verma, director general at National Informatics Centre, responsible for encryption and data security for all government welfare programs and offices. “As volumes of data grow, we have also increased the encryption we provide,” Verma said, noting plans to hire an extra 355 people to boost her data security team. The June presentation made to the finance minister lists a number of concerns about virtual currencies. It explored banning trade in cryptocurrencies, regulating and taxing it or treating it as a digital asset similar to gold.

Source: Mint August 22, 2017 03:00 UTC