According to PRS Legislative Research, the bill on cryptocurrency and the regulation of the official digital currency has been included by lawmakers on the list of issues to be considered by the Indian parliament in the near future. The bill is due to be presented during the parliamentary session, which is to begin on July 19, 2021.
The new bill aims to facilitate the creation of the digital currency of India’s central bank while simultaneously banning private ownership of cryptocurrencies in the country. Although this bill will also provide for certain exceptions for coins that promote the underlying cryptocurrency technology and its use.
This information appeared against the backdrop of a sharp increase in investment in digital assets in India. Indians reportedly invested $ 6.6 billion in cryptocurrencies in May 2021 alone, up 615% from a year earlier.
Trade Union Finance Minister Nirmala Sitharamanm said a lot has been done for the proposed bill, which includes feedback and views from stakeholders.
Back in March, at the level of rumors, there was information that India would be the first country in the world to completely ban cryptocurrency.
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