Cryptocurrency and Official Digital Currency Bill 2021 in Parliament (Updates) The Government will introduce the important- awaited‘The Cryptocurrency and Regulation of Official Digital Currency Bill 2021’in Parliament during the ongoing Winter Session. The Bill may be introduced in the coming days. It isn’t on the revised‘List of Business’of the Lok Sabha for November 30, 2021. The Crypto assiduity is awaiting a positive regulation that may permit investing and trading in crypto with certain restrictions. The buzz around the Crypto Bill till now has been both positive and negative.
The Crypto Bill is one of the numerous particulars on the list of bills to be introduced in Parliament during the Winter Session. Last week, confusion and fear gripped the crypto request in India as the wordings of the description of cryptocurrency bill on the list was the same as last time. It repeated the Govt’s intention to ban private cryptocurrencies. Still, opinions are divided till now as to what the government means by using the term private cryptocurrency. For full clarity, we will have to stay till Cryptocurrency Bill 2021 comes into the public sphere According to Edul Patel, CEO andCo-founder of crypto investment platform Mudrex, presently, there are further than cryptocurrencies that are traded across exchanges. There’s a lack of clarity in terms of what the government means by private cryptocurrencies. Cryptocurrencies like bitcoin, Ether and other cryptos are available across centralised and decentralised exchanges. Still, all of these cryptos are created by inventors or companies, and not by governments.
“ The term private cryptocurrencies is intriguing because there was news about governments coming up with their own cryptocurrency. These cryptocurrencies are known as CBDCs or Central Bank Digital Currencies. There could be a possibility that these CBDCs are public cryptocurrencies and all others be classified under private cryptocurrencies. Still, it’ll be intriguing to see what comes under the dimension of private cryptocurrencies,” Patel told FE Online.
Cryptocurrency Bill 2021 not to be introduced in Lok Sabha today (November 30)
The Cryptocurrency and Regulation of Official Digital Currency Bill 2021 was not introduced in the Parliament on Monday (November 29th, 2021).
The bill is also not likely to be introduced today (November 30) as it is not on the ‘Revised List of Business’ of Lok Sabha today.
Bills to be introduced today:
The Government will today introduce two new bills in the Lok Sabha. These are:
1. The High Court and Supreme Court Judges (Salaries and Conditions of Service) Amendment Bill, 2021.
2. The Assisted Reproductive Technologyu (Regulation) Bill, 2021.