This comes as a decent piece of reports for the followers of virtual currencies (VCs). The government is in favor of a native or indigenous virtual currency, and to fulfill that purpose, it's making an attempt to find out the technologies being utilized in these currencies.

Sources close to the development have reported zee Business that the government is working on the technology associated with virtual currencies and is looking forward to developing a native or indigenous virtual currency in the country. At present, the government is working on the technology and utility related to it. In fact, it's making an attempt to seek out means way to use the technology in a very positive way.

According to sources, the blueprint of the native virtual currency is going to be ready by Sep 2018 and therefore the final guidelines associated with the Cryptocurrency shall be released by the first week of Sep.

Right now, it's engaged in talks with RBI, SEBI and different stakeholders.

Perhaps, Cryptocurrencies like Bitcoin and others have been virtually illegal in India with the government authorities unwilling to encourage individuals to invest in them at all.

SET IN MOTION

According to sources, the blueprint of the native virtual currency shall be ready by Sep 2018 and therefore the final guidelines are going to be released in Sep