Copy link
Increase text size
Decrease text size
Link copied

India’s crypto bill won’t likely be taken up during Parliament’s Budget Session

The government reportedly “wants to hold wider consultations on the matter” and it is highly unlikely that the bill will be drafted before March as the Finance Ministry and institutional stakeholders have other priorities.

New Delhi, India / Image by: Wikimedia Commons

Mon, 27 Dec 2021, 06:29 am UTC

India’s crypto industry still continues to face regulatory uncertainly as the much-awaited cryptocurrency bill was not taken up during the Parliament’s Winter Session. A former government official even expressed doubts about the government’s ability to figure out the complexities of crypto.

The bill titled “The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021” was listed on the website of the lower house of India’s Parliament, Lok Sabha. However, it was never taken up for discussion during the winter session, which ended on December 22, 2021.

However, it appears that the crypto bill won’t be up for discussion during Parliament’s next session either, according to Coindesk. The government reportedly “wants to hold wider consultations on the matter” and it is highly unlikely that the bill will be drafted before March as the Finance Ministry and institutional stakeholders have other priorities.

This is not the first time that the crypto bill was listed on the Parliament’s agenda but eventually failed to be taken up during the discussions. The first time was during the budget session in February 2021.

There’s a lot of confusion and apprehension surrounding the proposed bill. A brief description of the proposed legislation stated that “the Bill also seeks to prohibit all private cryptocurrencies in India, however, it allows for certain exceptions to promote the underlying technology of cryptocurrency and its uses.” It is not clear what those certain exceptions might be and whether or not Bitcoin (BTC), the world’s biggest crypto in terms of market cap, might be included in those exceptions.

Meanwhile, a former government official expressed doubts on the government’s ability to figure out crypto. “I expressed serious doubts when the government had expressed its intent to present the bill, about the introduction of the crypto-assets/currencies bill in the Winter Session of Parliament. I am, therefore, not surprised to see the present situation where there is zero clarity over what is the Bill,” former Finance Secretary Subhash Chandra Garg said. He headed the inter inter-ministerial committee that drafted the original crypto bill that proposed banning cryptocurrencies including Bitcoin.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Joanchris333
  • 2022.01.20 16:05:03
I was depressed some Months ago due to how frustrating it is dealing with bad credits, but reaching out to HACK VANISH via Phone: +1 (747) 293-8514 and Email: HACK VANISH (@) GMAIL. COM gave my life a new meaning, after I found him credible through positive reviews I read on a credit blog, in a twinkle of an eye, this great hacker got my credit score restored from 509 to 784 across the 3 major credit bureaus, all evictions and repossession has been wiped off, my LexisNexis and Chex system fixed respectively, to my greatest surprise, some days later, I received an E-mail confirming the approval of my pending loan application. I can confidently say 2021 was an exceptional year for my husband and I as we are proud owners of a new home and a brand-new SUV courtesy HACK VANISH, I would definitely recommend him to anyone in need of a genuine Hacker.
  • 0
  • ·
  • 0
  • Brittanydustin
  • 2021.12.28 13:51:51
GET RICH WITH BLANK ATM CARD ... Whatsapp: +18033921735

I want to testify about Dark Web blank atm cards which can withdraw money from any atm machines around the world. I was very poor before and have no job. I saw so many testimony about how Dark Web Cyber hackers send them the atm blank card and use it to collect money in any atm machine and become rich.( [email protected] ) I email them also and they sent me the blank atm card. I have use it to get 250,000 dollars. withdraw the maximum of 5,000 USD daily. Dark Web is giving out the card just to help the poor. Hack and take money directly from any atm machine vault with the use of atm programmed card which runs in automatic mode.

You can also contact them for the service below

* Western Union Transfer Hack

* Bank Transfer Hack

* PayPal / Skrill Transfer Hack

* Crypto Mining Hack

* CashApp Transfer Hack

Email: [email protected] OR [email protected]

Text & Call or WhatsApp: +18033921735

Visit: https://darkwebcycberhackers.com/
  • 0
  • ·
  • 0
  • Brittanydustin
  • 2021.12.28 13:51:48
GET RICH WITH BLANK ATM CARD ... Whatsapp: +18033921735

I want to testify about Dark Web blank atm cards which can withdraw money from any atm machines around the world. I was very poor before and have no job. I saw so many testimony about how Dark Web Cyber hackers send them the atm blank card and use it to collect money in any atm machine and become rich.( [email protected] ) I email them also and they sent me the blank atm card. I have use it to get 250,000 dollars. withdraw the maximum of 5,000 USD daily. Dark Web is giving out the card just to help the poor. Hack and take money directly from any atm machine vault with the use of atm programmed card which runs in automatic mode.

You can also contact them for the service below

* Western Union Transfer Hack

* Bank Transfer Hack

* PayPal / Skrill Transfer Hack

* Crypto Mining Hack

* CashApp Transfer Hack

Email: [email protected] OR [email protected]

Text & Call or WhatsApp: +18033921735

Visit: https://darkwebcycberhackers.com/
  • 0
  • ·
  • 0
More
  • Bitcoin (btc) $37,317.00 (+2.78%)
  • Ethereum (eth) $2,428.06 (+0.70%)
  • Tether (usdt) $1.01 (+0.22%)
  • Binance Coin (bnb) $390.74 (+6.39%)
  • USD Coin (usdc) $1.00 (-0.33%)
  • Bitcoin (btc) $37,317.00 (+2.78%)
Jul 15, 2021 (Thursday)
13:30
BTC Surges by 1.16% Within 5 Mins, Marking 31,824.01 USDT
12:06
BTC Surges by 1.12% Within 5 Mins, Marking 32,104.8 USDT
10:25
BTC Drops by 1.03% Within 5 Mins, Marking 32,171.88 USDT
02:13
TriumphX Scouts 'MINAMCOMPANY' CEO Woo-Seong Lee As Creative Director
02:00
ETH Tops List Of Crypto Net Inflow With $298.96 Mln In Past 10 Hours
Jul 14, 2021 (Wednesday)
13:14
BTC Surges by 1.03% Within 5 Mins, Marking 32,738.08 USDT
09:03
BTC Surges by 1.01% Within 5 Mins, Marking 31,899 USDT
02:30
Crypto Market Sentiment On Jul 14: Market In "Extreme Fear"
02:00
ETH Tops List Of Crypto Net Outflow With $224.97 Mln In Past 10 Hours
Jul 13, 2021 (Tuesday)
02:30
Crypto Market Sentiment On Jul 13: Market In "Extreme Fear"
02:00
ETH Tops List Of Crypto Net Outflow With $178.61 Mln In Past 10 Hours
Jul 12, 2021 (Monday)
02:30
Crypto Market Sentiment On Jul 12: Market In "Extreme Fear"
02:00
BTC Tops List Of Crypto Net Inflow With $164.82 Mln In Past 10 Hours
Jul 11, 2021 (Sunday)
21:31
BTC Surges by 1.02% Within 5 Mins, Marking 34,475.6 USDT
10:00
ETH Tops List Of Crypto Net Inflow With $122.76 Mln In Past 18 Hours
06:17
SOBA Listed On LATOKEN
02:30
Crypto Market Sentiment On Jul 11: Market In "Extreme Fear"
02:00
BTC Tops List Of Crypto Net Outflow With $87.56 Mln In Past 10 Hours
Jul 9, 2021 (Friday)
21:40
BTC Surges by 1.08% Within 5 Mins, Marking 33,911.8 USDT
02:30
Crypto Market Sentiment On Jul 09: Market In "Extreme Fear"
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft