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The Bill On Indian Cryptocurrency May Experience Delay

The cryptocurrency bill in question is to bring new regulations for the Indian crypto market. But then, latest reports notes that the crypto bill is not yet in conclusion yet

Of course, The draft bill needs cabinet approval before discussion kickoff in the parliament. Meanwhile, this isn’t yet I’m conclusion yet.

“The proposed ‘Cryptocurrency and Regulation of Official Digital Currency Bill, 2021’…”
“is not on the agenda of Union Cabinet meeting scheduled on…”
“December 15, sources confirmed”

Additionally, The parliament session is now on halt due to protests from the opposition. Even the suspension of a few members of parliament. Notably, Those MPs on suspension are now protesting over the key bills within minutes and without any deliberate discussion.

Waiting Time For Indian Crypto Ecosystem

Furthermore, The Indian cryptocurrency bill is witnessjng delays again, resulting to waiting for another few months. But, the discussion development around the bill brings hope to crypto entrepreneurs,

More so, Nikhil Aggarwal, co-founder & CEO of GripInvest explains,

“Apart from SEBI’s intent to protect the retail investor from an investment class that has…”
“been very speculative, often at the mercy of tweets, there have been recent reports of hacking,..”
“concerns around money laundering, and a lack of clarity on taxation and accounting…”
, “We appreciate the government’s timely involvement to build supportive regulations…”
“especially as the volume of trading being witnessed on…”
“cryptocurrencies has reached significant levels,”.

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Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.