Indian Official Provides Updates on Crypto Bill and Transition Period for Cry...
As the Indian government gets closer to moving forward with the cryptocurrency bill, an official from the Ministry of Finance reportedly explained what discussions the government has been having regarding the crypto bill and the impending legislation. Indian Crypto Bill’s Progress Update The Indian government is getting closer to introducing the cryptocurrency bill in Parliament. On Friday, CNBC TV18 and Bloombergquint provided some updates on the status of the bill and what discussions the government has been having regarding cryptocurrency. However, both news outlets cited....
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An anonymous Indian official has claimed the country’s parliament will soon introduce a blanket bank on crypto assets, and give hodlers three-to-six months to liquidate. An anonymous source claiming to be a senior Indian Finance Ministry official has claimed that the use of crypto assets will soon be completely banned in the world’s second most populated country.Speaking to Bloomberg, the source claimed that the use of cryptocurrency in all its forms will be banned under a new law expected to soon be introduced in the parliament. Transacting with crypto via foreign exchanges will also be....
The Indian government has finally moved forward with a cryptocurrency bill. Entitled “The Cryptocurrency and Regulation of Official Digital Currency Bill 2021,” the bill has been listed for consideration in the current parliamentary session of Lok Sabha, the lower house of India’s parliament. It seeks to create a framework for India’s official digital currency to be issued by the Reserve Bank of India (RBI) but prohibit all cryptocurrencies. Indian Government Set to Introduce Cryptocurrency Bill in Current Parliamentary Session After almost two years of waiting, the....
The Indian government has spoken about the cryptocurrency bill again. This time, the minister of state for finance has clarified the status of the crypto bill that is expected to be introduced in parliament during the current session. Indian Ministry of Finance Clarifies Crypto Bill Status The subject of bitcoin and the cryptocurrency bill in India was raised on Tuesday in Rajya Sabha, the upper house of India’s parliament. Recently, the crypto bill was listed to be introduced in Lok Sabha, the lower house of parliament. The bill seeks to ban cryptocurrencies while creating a....
The Indian government is reportedly making additional changes to the country’s crypto bill. The bill, which is listed for the current session of parliament, may be taken up in the budget session instead. According to reports, the government could also “consider bringing an ordinance or special order after the session.” Indian Crypto Bill Needs More Work The government of India is reportedly planning to make additional changes to the crypto bill. The “Cryptocurrency and Regulation of Official Digital Currency Bill 2021” is currently listed to be considered....
Indian government officials reportedly said that India’s cryptocurrency bill will require more time because crypto is a complex subject. The bill is therefore unlikely to be introduced in the upcoming session of parliament. The government reportedly wants to hold more discussions to build a consensus on a regulatory framework for crypto.
Crypto Bill Unlikely to Be Introduced in the Budget Session of Parliament
The Indian government may not introduce a cryptocurrency bill in the upcoming session of Parliament, the Economic Times reported Wednesday.
The....