Report-Regulating Bitcoin News

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According to reports, the cryptocurrency bill listed at this session of the parliament is being reformulated. Before finalizing the regulation of Indian digital currency, the government seeks more extensive cryptocurrency consultation.

The Indian government seeks more consultation on the proposed encryption legislation

India’s cryptocurrency bill is unlikely to be proposed at this session of the parliament. Bloomberg reported on Monday that the bill was not on the list of issues to be dealt with in the last week of the parliamentary winter meeting, and pointed out that the government can still pass a decree to introduce legislation after the meeting.

The news media quoted people familiar with the matter as saying that the government is still finalizing the details of cryptocurrency legislation.Last week, local media reported that the government is planning Make other changes To the cryptocurrency bill.The country’s Finance Minister Nirmala Sitharaman recently stated that the bill needs to be passed Rework.

The publication conveyed:

Prime Minister Narendra Modi (Narendra Modi) government hopes to have more extensive consultations on the matter before finalizing the rules governing digital currencies, and since this session will end on December 23, there is not enough time.

According to reports, the Indian government plans Regulate crypto assets but ban Use cryptocurrency to make payments. A deadline will also be set for investors to declare their crypto assets.

Indian Prime Minister Narendra Modi said last week that cryptocurrencies should be used Empower democracy. He is expected to take final decision Regarding the country’s encryption legislation.

Last week, the Reserve Bank of India (RBI), the country’s central bank, stated at its Central Committee meeting that Comprehensive ban Cryptocurrency is necessary because partial bans will not work. Shaktikanta Das, Governor of the Reserve Bank of India, has repeatedly stated that the central bank has serious and major concerns about cryptocurrencies.

When do you think India will finally regulate cryptocurrencies? Please let us know in the comments section below.

Kevin Helms

As a student of Austrian economics, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects, and the intersection of economics and cryptography.




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