India Plans to ‘Fast Track’ New Cryptocurrency Bill, Seeks to Take ‘Middle Pa...
The Indian government is reportedly trying to “fast track” a modified cryptocurrency bill to be introduced in the winter session of parliament. India’s crypto legislation is expected to take a “middle path” approach to balance all stakeholders’ concerns. India Reportedly Modifying Crypto Bill to Introduce at the Start of Winter Session of Parliament India is currently working on cryptocurrency regulation. The government is now considering taking a “middle path” that balances all stakeholders’ concerns to regulate....
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The government of India has listed a cryptocurrency bill to be taken up in the upcoming session of parliament that starts next week. The bill seeks to prohibit cryptocurrencies with some exceptions. It will also create a facilitative framework for a digital rupee to be issued by the Reserve Bank of India (RBI).
Indian Government Pushes for Crypto Legislation Before Year-End
The Indian government has listed a cryptocurrency bill to be taken up in the winter session of Lok Sabha, the lower house of India’s parliament, according to the legislative agenda for the upcoming....
The cryptocurrency bill that was listed to be taken up in the current session of parliament is reportedly being reworked. The government seeks wider consultation on crypto before finalizing the rules to govern digital currencies in India.
Indian Government Seeks More Consultation on Proposed Crypto Legislation
India’s cryptocurrency bill is unlikely to be introduced in the current session of parliament. The bill is not on the list of business to be taken up in the last week of the winter session of parliament, Bloomberg reported Monday, noting that the government can....
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 is reportedly considering taking “the ordinance route” to quickly pass the cryptocurrency bill. “The government is of the firm view that they want to introduce the law within a month of clearance of the ordinance,” a local news outlet detailed. Indian Government Seeks to Quickly Pass Crypto Bill All eyes are on what the government of India will do with the cryptocurrency bill that is listed to be introduced in the current session of parliament. The bill seeks to ban cryptocurrencies while creating a framework for the official digital currency....
The country wishes to see all crypto activities take place on platforms regulated by SEBI. On Tuesday, BloombergQuint (Bloomberg India) reported that the penalty for non-compliance with the Indian government's crypto policies could range from a maximum fine of 20 crore rupees ($2.7 million USD) or 1.5 years in jail. Prime Minister Narendra Modi will likely give cryptocurrency investors a deadline to comply with new rules and declare their assets. Whilst the regulatory environment in the country holds a high degree of uncertainty, reports have indicated that investors' crypto must be soon....