Indian Government Needs More Time to Finalize Crypto Bill: Report – Regulation Bitcoin News

Indian government officials reportedly said that India's cryptocurrency bill will require more time because crypto is a complex subject.

1/21/2022 6:03:00 AM

“The crypto bill may not be introduced in the Budget session. It is a complex subject. This will require more time.” cryptocurrency bitcoin

Indian government officials reportedly said that India's cryptocurrency bill will require more time because crypto is a complex subject.

Indian Government Needs More Time to Finalize Crypto Bill: ReportIndian 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 ParliamentThe Indian government may not introduce a cryptocurrency bill in the upcoming session of Parliament, the Economic Times reported Wednesday.The government wants to hold more discussions and build consensus on the regulatory framework for cryptocurrency, the publication conveyed, citing unnamed government officials with knowledge of the matter. A senior finance ministry official told the publication:

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18 seconds ago Indian Government Needs More Time to Finalize Crypto Bill: Report 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 government wants to hold more discussions and build consensus on the regulatory framework for cryptocurrency, the publication conveyed, citing unnamed government officials with knowledge of the matter. A senior finance ministry official told the publication: The crypto bill may not be introduced in the budget session. It is a complex subject. This will require more time. A cryptocurrency bill was listed to be considered in the winter session of parliament but it was not taken up. The government is now reportedly reworking the bill. The official further explained to the news outlet that the government wants to wait for technical inputs from the central bank, the Reserve Bank of India (RBI), after the pilot launch of its central bank digital currency (CBDC), the digital rupee. The pilot launch is expected to take place in the coming months. India’s central bank has recommended a complete ban on cryptocurrency. In its recent meeting of the central board of directors, the RBI said that . The central bank has repeatedly warned about the risks cryptocurrency poses to the country’s financial system. Earlier this week, Indian Prime Minister Narendra Modi to tackle the challenges brought by cryptocurrency. Meanwhile, the Indian crypto industry is