The government will introduce the cryptocurrency bill officially during the current winter session of parliament
Cryptocurrencies and Regulations on the Official Digital Currency Bill 2021- the official bill to regulate digital currencies will be introduced in Parliament during the winter session starting on November 29. Cryptocurrency legislation is among a total of 26 bills that have been listed for the introduction, according to a government statement today.
JUST IN: 26 New bills listed to showcase in #WinterSession, consisting of three Ordinances, the Electricity Bill (Amendment), 2021, Cryptocurrencies and Regulations of the Official Digital Currency Bill, 2021.
Additional budgets are also expected to be tabulated.
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– Legislative PRS (@PRSLegislative) November 23, 2021
Cryptocurrencies and Regulations of the Official Digital Currency Bill 2021 seeks to create a favorable framework for the creation of an official digital currency issued by the Reserve Bank of India (RBI). . The bill seeks to ban private cryptocurrencies in the country and would allow certain exceptions to promote the underlying technology and its use.
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. .