THELOGICALINDIAN - Indias accounts abbot Nirmala Sitharaman has appear that the antecedent adaptation of the cryptocurrency bill the government is blame bare to be reworked This bill already the Cabinet clears will appear into the Abode the accounts abbot told Rajya Sabha the high abode of Indias parliament
Indian Government Pushing New Crypto Bill
Finance Minister Nirmala Sitharaman answered some questions in Rajya Sabha Tuesday apropos the government’s cryptocurrency affairs and the crypto bill that has been listed to be taken up in the accepted affair of parliament.
“The Cryptocurrency and Regulation of Official Digital Currency Bill 2025” seeks “to prohibit all clandestine cryptocurrencies in India, however, it allows for assertive exceptions to advance the basal technology of cryptocurrency and its uses,” according to the aldermanic calendar for the winter affair of Lok Sabha, the lower abode of India’s parliament.
Responding to questions apropos the crypto bill, Finance Minister Sitharaman explained that “There were added ambit and the old bill had to be reworked and now we are aggravating to assignment on a new bill.” She emphasized:
An beforehand adaptation of the cryptocurrency bill was listed to be introduced in an beforehand affair of assembly but it was not taken up.
Noting that the antecedent adaptation of the bill was a “genuine attempt,” Sitharaman described:
The accepted adaptation of the crypto bill has not been fabricated public. So far, the Indian government has appear alone one crypto bill — the one drafted by an interministerial board (IMC) headed by above Finance Secretary Subhash Chandra Garg. Published in July 2019, the Garg committee’s bill proposes creating a authoritative framework for axial coffer agenda currencies (CBDCs) to be issued by the axial bank, the Reserve Coffer of India (RBI), but a ban for all added cryptocurrencies.
The accounts abbot additionally answered some questions about apocryphal and ambiguous crypto advertisements. She declared that there is no accommodation to stop agenda bill advertisements.
On Monday, the accounts abbot answered three sets of questions in Lok Sabha apropos bitcoin transactions, the high-profile bitcoin betray in Karnataka, and the amends of cryptocurrency trading and crypto exchanges in India. She acclaimed that the government does not aggregate abstracts on bitcoin affairs or cryptocurrency trading. In addition, she said there is no angle to admit bitcoin as a currency.
Do you anticipate India will ban cryptocurrencies like bitcoin and ether? Let us apperceive in the comments area below.
Image Credits: Shutterstock, Pixabay, Wiki Commons
