• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Thursday, May 22, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Crypto

After Cabinet’s approval, Govt. to introduce new crypto-law in Parliament: Finance Minister

by Baisakhi Mishra
November 30, 2021 - Updated On December 2, 2021
in Crypto, News
Reading Time: 2 mins read
0
After Cabinet approval, Govt. to introduce new crypto-law in Parliament: Finance Minister

Image Source: LatestLY

TwitterWhatsappLinkedin

Union Finance Minister Nirmala Sitharaman announced on November 30 that the Govt. to introduce new crypto-law in Parliament after Cabinet clearance. The Finance Minister also stated that the Centre is considering regulating non-fungible tokens (NFTs).

You might also like

Epic Games’ Fortnite Makes Triumphant Return to Apple’s App Store After Nearly Five-Year Ban

Paramount Faces Political Firestorm Over Possible Trump Lawsuit Settlement

Intel Considers Selling Network and Edge Units Amid Strategic Overhaul Under New CEO

Govt. to introduce new crypto-law in Parliament

After Cabinet approval, Govt. to introduce new crypto-law in Parliament: Finance Minister
Image Source: The New Indian Express

The Finance Minister remarked during Question Hour in the Rajya Sabha, “We are on the verge of introducing a bill in parliament. Once the law has been approved by the government, it will be introduced in the House.” According to Sitharaman, the new Bill is the result of rewriting an older bill that was unable to be submitted in earlier sessions of Parliament.

She also stated that the risk of cryptocurrency leading to illegal activity is being continuously monitored. “There was no decision made on whether or not its commercials should be banned. However, the RBI and SEBI are taking initiatives to raise awareness “she stated.

“Don’t have ready information regarding the amount of tax collected on cryptocurrencies,” Sitharaman stated in response to a question about the amount of taxes collected by the government on crypto trades. On November 29, Sitharaman stated that there is no proposal to recognize Bitcoin as a currency. In his written response, the Finance Minister also stated that the government does not collect data on Bitcoin transactions.

Bitcoin is a digital currency that enables people to purchase and sell goods and services without the involvement of banks, credit card companies, or other third parties.

The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, currently before Parliament in the Winter Session, aims to ban all private cryptocurrencies in India, but it makes exceptions to encourage the underlying technology of cryptocurrencies and their uses.

The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, is one of 26 new bills on the government’s legislative agenda, out of a total of 29. “To build a conducive framework for the creation of the official digital currency to be issued by the Reserve Bank of India,” the government said.

The Bill also aims to outlaw all private cryptocurrencies in India, with some exceptions to promote cryptocurrency’s underlying technology and applications.

“On crypto, we have serious concerns from the point of view of macroeconomic and financial stability. How the issue has to be dealt with – we have given our detailed suggestions to the government; as far as I know, the matter is under the active consideration of the government, and the government will decide,” RBI Governor had said at a media event.

If you find this article informative then do share it with your friends and family!

Also read: No data on cryptocurrency transactions, says Finance Ministry to Lok Sabha

Tags: Nirmala Sitharaman
Tweet54SendShare15
Previous Post

Elon Musk tells Tesla employees to reduce the delivery costs

Next Post

Dow Jones Jumps As Stock Market Rebounds From Friday Dive

Baisakhi Mishra

Recommended For You

Epic Games’ Fortnite Makes Triumphant Return to Apple’s App Store After Nearly Five-Year Ban

by Anochie Esther
May 22, 2025
0
Fortnite

In a twist that has been long awaited by millions of fans and closely monitored by the tech and gaming industries alike, Fortnite is finally making its comeback...

Read more

Paramount Faces Political Firestorm Over Possible Trump Lawsuit Settlement

by Harikrishnan A
May 22, 2025
0
Paramount Faces Political Firestorm Over Possible Trump Lawsuit Settlement

Three senior U.S. senators are raising red flags over media giant Paramount Global’s ongoing legal entanglement with President Donald Trump, warning that a settlement in his $20 billion...

Read more

Intel Considers Selling Network and Edge Units Amid Strategic Overhaul Under New CEO

by Harikrishnan A
May 22, 2025
0
Pentagon Halts $2.5 Billion Chip Grant to Intel,

In a significant pivot that could reshape Intel’s future, the tech giant is quietly weighing whether to sell off its network and edge computing business units. The move...

Read more
Next Post
Robinhood Financial settles to pay $70m, largest financial penalty by FINRA

Dow Jones Jumps As Stock Market Rebounds From Friday Dive

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?