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Budget 2021: Private cryptocurrency bill likely to be tabled in Parliament
New
Delhi,
Jan
31:
The
government
is
set
to
introduce
the
private
cryptocurrency
bill
in
the
budget
session
of
Parliament.
The
Cryptocurrency
and
Regulation
of
Official
Digital
Currency
Bill
is
likely
to
be
taken
up
in
the
budget
session
of
Parliament.
The
Budget
will
be
tabled
in
Parliament
on
February
1.
The bill once passed will ban cryptocurrencies while putting a framework for the launch of digital currency by the Reserve Bank of India.
The Lok Sabha bulletin that was released on Friday said that one of the purposes of the bill is to prohibit all private cryptocurrencies in India, while also providing a certain exception to promote the underlying technology.
In 2018, the then finance minister, late Arun Jaitley had stated that the government's resolve to discontinue the use of bitcoin and other virtual currencies.
The RBI had banned cryptocurrency transactions. However the Supreme Court had recently permitted people to buy and sell virtual currency.
