Govt is going to bring a 'well consulted' cryptocurrency bill: Sitharaman
By MYBRANDBOOK
Union Finance Minister Nirmala Sitharaman has said that the government will bring a well consulted cryptocurrency Bill.
Speaking at the Hindustan Times Leadership Summit 2021, Sitharaman restated that unregulated speculation about the developments in crypto space is ‘unhealthy’. While responding to a query in the Parliament, she clarified that there is no proposal to recognise Bitcoin as a currency.
The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, has been included in the Lok Sabha Bulletin-Part II for the introduction in the ongoing Winter Session. The bill seeks to create a facilitative framework for the creation of the official digital currency to be issued by the Reserve Bank of India (RBI).
Sitharaman, in the Rajya Sabha, had said the new bill takes into account the rapidly changing dimensions in virtual currency space, and incorporates features of the earlier bill that could not be taken up. She added the government, RBI and SEBI have been cautioning people about the cryptocurrencies that could be a "high risk" area and "more can be done" to create awareness.
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