{"id":9179,"date":"2021-07-06T13:54:15","date_gmt":"2021-07-06T13:54:15","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/indias-finance-minister-says-crypto-bill-ready-for-cabinet\/"},"modified":"2021-07-06T13:54:15","modified_gmt":"2021-07-06T13:54:15","slug":"indias-finance-minister-says-crypto-bill-ready-for-cabinet","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/indias-finance-minister-says-crypto-bill-ready-for-cabinet\/","title":{"rendered":"India\u2019s Finance Minister Says Crypto Bill Ready for Cabinet"},"content":{"rendered":"

India\u2019s finance minister has provided a status update on the country\u2019s cryptocurrency bill that the government has been working on. \u201cWe have done a lot of work on it. We have taken stakeholders\u2019 inputs,\u201d she was quoted as saying.<\/strong><\/p>\n

Status of Indian Crypto Bill<\/h2>\n

Indian Finance Minister Nirmala Sitharaman has provided a status update on the country\u2019s cryptocurrency bill in an interview with Businessline published last week.<\/p>\n

Sitharaman was asked about the status of \u201cthe Cryptocurrency and Regulation of Official Digital Currency Bill 2021\u201d and when it is likely to be passed. The Indian minister of finance replied:<\/p>\n

We have done a lot of work on it. We have taken stakeholders\u2019 inputs. The Cabinet note is ready. We have to see when the Cabinet can take it up and consider it so that then we can move it.<\/p>\n

\u201cFrom our side, I think one or two indications that I have given is that at least for fintech, experiment and pilot projects a window will be available. The Cabinet will have to take a decision,\u201d she clarified.<\/p>\n

<\/p>\n

The bill was originally listed<\/a> to be introduced during the budget session of parliament earlier this year but was not. According to its description<\/a> on the parliament\u2019s website, the crypto bill aims \u201cTo create a facilitative framework for [the] creation of the official digital currency to be issued by the Reserve Bank of India. 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.\u201d<\/p>\n

However, the government has since provided some more information about the bill. The finance minister said<\/a> in May: \u201cThere will be a very calibrated position taken \u2026 [The] world is moving fast with technology. We can\u2019t pretend we don\u2019t want it.\u201d In May, the government reportedly set up a panel of experts<\/a> to re-examine the recommendations within the bill.<\/p>\n

Do you think India will ban cryptocurrencies after all? Let us know in the comments section below.<\/strong><\/em><\/p>\n

Bitcoin News
\nRegulation, Bitcoin regulation, Crypto regulation, Cryptocurrency regulation, India, Indian, indian crypto regulation, indian finance minister<\/p>\n","protected":false},"excerpt":{"rendered":"

India\u2019s finance minister has provided a status update on the country\u2019s cryptocurrency bill that the government has been working on. \u201cWe have done a lot of work on it. We have taken stakeholders\u2019 inputs,\u201d she was quoted as saying. Status of Indian Crypto Bill Indian Finance Minister Nirmala Sitharaman has provided a status update on…<\/p>\n","protected":false},"author":0,"featured_media":9180,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-9179","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/9179"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=9179"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/9179\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/9180"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=9179"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=9179"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=9179"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}