The Cryptocurrency & Regulation of Official Digital Currency Bill

Akshit Handa

November 25, 2021

The Cryptocurrency and Regulation of Official Digital Currency Bill 2021-the authority bill to manage the advanced cash will be presented in the Parliament throughout the winter session that begins on November 29. The authority in-charge of crypto is looking to make a facilitative structure for forming advanced authority cash to be given by the Reserve Bank of India (RBI). The bill seems to boycott all private digital currencies in the nation. However, it will permit specific exemptions for advancing fundamental innovation and its employments. The crypto bill is among a sum of 26 statements that have been recorded for presentation, as per an administration proclamation today. Last week, the first Parliamentary board conversation on cryptographic money was held, where an agreement was arrived that digital currency can't be halted yet should be managed. The finance committee meeting met officials of crypto exchanges, Blockchain and Crypto Assets Council, and other associates on November 16. It has been put to light that India needs to address the concerns regarding cryptocurrencies.

Abridged fromNDTV