There’s a recent update on the Indian Cryptocurrency and Regulation of Official Digital Currency Bill, 2021. So, according to the Finance Minister, Nirmala Sitharaman, the crypto bill from the Parliament this winter will be different from the one from February 2021.
Currently, the Indian government is waiting on approval from the Cabinet inorder to finally launch the bill in the Parliament house.
“FM on Crypto Bill. This looks promising.”
pic.twitter.com/RAej8ocJ9R — Crypto India 🔑 (@CryptooIndia) November 30, 2021
Furthermore, The Finance Minister states that while the market is raging with speculation, and uncertainties yet. Then, the Indian government is just hyping up a bill which may not go live.
However, Sitharaman explains better, saying the new bill has onboard the previous bill’s research. Also, it is in update inorder to meet the requirements of the present state. Thereby, turning it into a bill which will be far more recent and better.
So, Indian Finance Minister explains in the Lok Sabha today, saying that the government is ready to introduce the new crypto bill,
“Last time there was a bill proposed but subsequently there were other dimensions…”
“which in the real time we thought it was important to bring into the bill…”
“That bill had been reworked and in a way the bill which is coming now is a new but never…”
“mind the work done on that have all been taken onboard…”
“Earlier attempt was definitely to come up with a bill, but later because rapidly a lot of things had to come into play,..”
“we had started working on a new bill and this is the bill which is now being proposed…”
“once the cabinet clears it, it will come into the house.”
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