Cryptocurrency Bill Set For Monsoon Session | Avaneesh Parasar

 

Cryptocurrency Bill Set For Monsoon Session | Avaneesh Parasar

The government is likely to present the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 in Parliament during the Monsoon session that begins on July 19.
Avaneesh Parasar-Financial Advisor-Stock Trader

Union Finance Minister Nirmala Sitharaman earlier this week said that they have done a lot of work on the bill and the Cabinet note is ready. She added that views, perspectives and feedback have been taken from stakeholders.

“We have to see when the Cabinet can take it up and consider it so that then we can move it,” she told The Hindu.

The minister also clarified that a window will be available for fintech, experiment and pilot projects but the final call will be taken by the Cabinet.

Meanwhile, Union Parliamentary Affairs Minister Pralhad Joshi had earlier said that over 20 plus bills, including five ordinances, would be tabled during the Monsoon session.

The cryptocurrency bill was listed during the Budget Session as well but could not be tabled as the session was truncated due to the deadly second COVID-19 wave.

The crypto bill, according to its description on the Parliament’s website, aims “to create a facilitative framework for [the] creation of the official digital currency to be issued by the Reserve Bank of India. The bill also seeks to prohibit all private cryptocurrencies in India, however, it allows for certain exceptions to promote the underlying technology of cryptocurrency and its uses.”
Full Article: https://www.cnbctv18.com/cryptocurrency/cryptocurrency-bill-set-for-monsoon-session-what-we-know-so-far-9948641.htm

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