The Union Cabinet is likely to discuss the “Cryptocurrency and Regulation of Official Digital Currency Bill, 2021” in today’s meeting. The meeting is scheduled to take place at 1 pm, ANI quoted sources as saying.
The Union Finance Ministry on Tuesday informed the Lok Sabha that a Bill on Cryptocurrencies is under consideration of the Cabinet.
The central government had earlier decided to introduce the bill in the winter session of Parliament and, sources said, it may later be referred to the standing committee for further deliberations.
The Bill seeks to “create a facilitating framework for the creation of an official digital currency to be issued by the Reserve Bank of India”.
The bill also seeks to ban all private cryptocurrencies in India, but it allows certain exceptions to promote the cryptocurrency and the technology underlying its use.
The bill was one of the 26 new bills on the government’s agenda to be introduced and passed during the winter session that began on November 29.
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