It is expected that the Indian government would present a new Crypto Bill in Parliament during the current winter session. While the government has yet to propose the Bill, it is expected to do so soon. Finance Minister Nirmala Sitharaman said today that the bill would be introduced in the House following cabinet approval.
“The bill aims to prohibit all private cryptocurrencies in India”, says the Bill. To promote the underlying technology and its applications, it “allows for some exceptions”. The Bill also creates a framework for the RBI to launch an official digital currency.
Today, Sitharaman stated the Centre is mulling NFT legislation. She noted that the government is keeping an eye on “unwanted activities” using cryptocurrency.
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