Finance Minister Nirmala Sitharaman Very soon the government is likely to bring a well-planned Cryptocurrency Bill that will be formulated based on extensive consultation from all the stakeholders.
Adding to this statement, the Finance minister said that there are a lot of speculations in the markets about the proposed Cryptocurrency Bill. She further said that the proposed bill has been drafted in detail and after crucial discussions with all the concerned parties and groups. “We are going to introduce it in the parliament once it is approved by the cabinet,” She said while addressing an event.
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The finance minister’s remarks came on the occasion of the introduction of the much-awaited and discussed Cryptocurrency, the official digital currency bill in the current winter session of the Parliament.
The Finance Minister pointed out that in various media houses articles that are titled ‘RBI currency, approval for digital currencies! crypto assets’ .. are been circulated in numbers thereby leading to more speculations.
During her address, the Finance Minister hinted that the proposed Cryptocurrency Bill would include a proposal to ban all privately operated and circulated cryptocurrencies domestically except to some of the selected cryptocurrencies for extremely selective purposes.
It is very clear and evident from the finance minister’s recent address that the government has no plans to recognize cryptocurrencies like Bitcoin as the official currency of the country.
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