The bill prepared on the legal regulations to be brought about the use of crypto money in India may be delayed to the next term of the parliament.
According to the news that Bloomberg based on names with knowledge on the subject, the Indian government has not yet discussed the details of the crypto money bill that has been prepared for a while. could not make a clear decision.
The parliament, which came together in three different periods throughout the year in India, took the crypto money bill to its agenda in the winter period, which started on November 29.
Government officials led by Prime Minister Narendra Modi continues to gather information and it is stated that the bill may not reach the winter period, which will end on December 23.
In the cryptocurrency bill, which is expected to be discussed in the parliament, “ban all private cryptocurrencies” recommended. But there are no details about the scale of the proposed restriction.
According to media reports, the Reserve Bank of India is using cryptocurrencies. ban supporters, government officials investment tool It looks forward to continuing to be used as a
The crypto sector in India started to grow rapidly after the Central Bank’s restriction was lifted by the Supreme Court in 2018. According to Chainalysis data, the local crypto market has grown in a one-year period starting June 2020. Displayed 641% growth.
Discussions on the crypto money bill are not on the parliament’s calendar at the moment. However, the government may resort to a decree to regulate the cryptocurrency sector, even if the session period in the parliament is over.