The reasons for the most anticipated and predicted Cryptocurrency bill which is expected to be introduced in this winter session of the Parliament. With the primary reason for such delay is pending cabinet approval that is yet to be received by the cryptocurrency bill.
It was very much predicted and hoped that the crypto row would be cleared at the meetings which were aimed at RBI’s effort to curb private cryptocurrencies and finally bring its own digital blockchain-based currency.
However, The Finance Minister’s statement that the said cryptocurrency bill is ready for drafting is just limited to announcements and the final conclusion of these meetings is another three days of waiting.
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Thereby making the topic of cryptocurrency the major topic of discussion and debate.
As per certain articles that have been published by some news portals and websites the cryptocurrency bill may not be introduced in Parliament during the current winter session.
With the winter session of Parliament all set to end in just three days (December 23). Thereby highlighting the center’s failure to reach a final decision on the technicalities of the cryptocurrency law.
In the middle of all the media speculations, debates, and doubts. Union Finance Minister Nirmala Sitharaman has made a key statement regarding the proposed crypto bill row.
During her address, she said, “We have drafted the bill after discussing it with all the concerned parties and we will introduce it in the parliament once it is approved by the cabinet.”
Finally making it almost certain that in the current Parliament winter session the cryptocurrency bill would get introduced and discussed that will be aimed at introducing an official digital cryptocurrency in the country. But the crypto bill has not yet received any approval from the Cabinet.
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