FM Nirmala Sitharaman's stand on banning cryptocurrency in the country is strict. Finance Minister Nirmala Sitharaman said on Tuesday that a bill on cryptocurrencies will be introduced in Parliament after the approval of the Union Cabinet. The minister also said that regulation of non-fungible tokens (NFTs) is also being considered. The government will soon bring a bill after the approval of the cabinet. It was not brought up last time as other aspects were yet to be looked into. Many things like Cryptocurrency had come into play. Sitharaman said during the Question Hour in the Rajya Sabha that the intention is to amend the bill.
Regarding advertisements on Cryptocurrency, he said that no decision has been taken yet on banning advertisements. ASCI regulates the advertisement and prepares the guidelines. All its rules are being looked at so that we can see what can be done on ads.
Earlier on Monday, the minister said that there is no proposal to recognize bitcoin as a currency. Furthermore, he added that the government does not collect data on bitcoin transactions. The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, listed in the ongoing winter session of Parliament, seeks to ban all private cryptocurrencies in India. However, it allows for some exceptions to the underlying technology of cryptocurrencies and the promotion of its use.
The government told the Lok Sabha on Monday that cryptocurrency is unregulated in India and it does not collect information about its trade. Minister of State for Finance Pankaj Choudhary in Lok Sabha said that the Reserve Bank of India has advised its regulated entities vide circular dated 31 May 2021 to adopt Know Your Customer, anti-money laundering measures, combating the financing of terrorism and money laundering. Maintain proper procedures for cryptocurrency transactions following the rules governing standards of obligations under the Prevention of Act 2002 etc.
There is not much time left for the start of IPL 2024. The 17th edition of the tournament will st
The final of the ODI World Cup 2023 is to be held between India and Australia. Players of both te
Raveena, who killed her husband Praveen along with her YouTuber lover Suresh Raghav, was not only
Last month, 'Kaanta Laga Girl' Shefali Jariwala passed away. After the death of the actress, ther
US President Donald Trump has spoken to Prime Minister Modi over the phone. He expressed deep con
The budget session of Parliament may begin on January 31. According to the news agency ANI, the b
The National Investigation Agency (NIA) has caused a strong injury to the network of Khalistani t
Which vehicles from outside states were banned in Delhi and who got relief, know full details
These days a piece of misleading news is floating on the internet media regarding the entry of ve
Former Union Minister and senior BJP leader and MP Prakash Javadekar said that Prime Minister Nar
The world's largest religious-cultural gathering Maha Kumbh 2025 has started in Prayagraj from Mo
