MoS Finance: Govt will take measures to finish crypto-asset use

The authorities mentioned Tuesday it is going to take all measures to remove the use crypto-assets in funding illegitimate actions or as a part of the fee system.
In a written reply to the Rajya Sabha, Minister of State for Finance Pankaj Chaudhary mentioned, “The government does not consider crypto-currencies legal tender or coin and will take all measures to eliminate use of these crypto-assets in financing illegitimate activities or as part of the payment system.” He added the federal government will discover use of blockchain know-how proactively for ushering in digital economic system.
A high-level inter-ministerial committee constituted beneath the Chairmanship of Secretary (Economic Affairs) to review points associated to digital currencies and suggest particular actions to be taken within the matter advisable that each one personal cryptocurrencies, besides any cryptocurrency issued by the State, be prohibited in India.
Zomato loss widens on non-cash ESOPs
Mumbai: Zomato posted a consolidated lack of Rs 356.2 crore in the course of the June quarter, as towards a lack of Rs 99.8 crore within the year-ago interval.
“This is largely on account of non-cash ESOP expenses which have increased meaningfully in Q1 of FY22 due to significant ESOP grants made in the quarter pursuant to creation of a new ESOP 2021 scheme. This divergence in reported profit/loss and adjusted EBITDA will continue going forward,” the corporate mentioned. Zomato shares closed 4.22 per cent decrease at Rs 124.95 on the BSE on Tuesday.
The firm’s complete income from operations jumped to Rs 844.4 crore in the course of the quarter beneath evaluate as towards Rs 266 crore within the corresponding interval of final 12 months. “Revenue growth was largely on the back of growth in our core food delivery business which continued to grow despite the severe Covid wave starting April,” Zomato mentioned. Total bills elevated to Rs 1,259.7 crore as towards Rs 383.3 crore.