Crypto bills are among the 26 bills that have been listed for referrals.
New Delhi:
The Cryptocurrency Regulation Bill will be introduced in Parliament during the winter session starting on November 29. The Cryptocurrency Bill and Regulations on the Official Cryptocurrency Bill, 2021, are in the total No. 26 bills were listed for introduction. This comes a week after the first parliamentary panel discussion on broad aspects of crypto finance, where consensus was reached that cryptocurrencies cannot be stopped but must be regulated. .
The security of investors’ funds and misleading advertisements in the media regarding investment potential and risks have long been cause for concern. The government has held several meetings with all stakeholders to discuss the regulation of digital currencies. Prime Minister Narendra Modi also chaired a high-level meeting with officials from ministries and RBI on the matter.
The Reserve Bank of India and the Securities and Exchange Commission of India have voiced concerns about the unregulated growth of cryptocurrencies in India, noting vulnerable retail investors.
“Regarding cryptocurrencies… we have serious concerns from the standpoint of macroeconomic and financial stability. How should the issue be addressed – we have made a detailed proposal with the government; as far as I know, the matter is under active review by the government, and the government will decide,” RBI Governor Shaktikanta Das said Wednesday at an event.
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