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bill: Union cabinet likely to discuss Cryptocurrency Bill today

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NEW DELHI: The Union cupboard is more likely to focus on “The Cryptocurrency and Regulation of Official Digital Foreign money Bill, 2021″ at right this moment’s assembly. The assembly is scheduled to happen at 1 pm, sources stated.
The Union finance ministry on Tuesday had knowledgeable the Lok Sabha {that a} Invoice on cryptocurrency is beneath remaining consideration of the Cupboard.
The Union authorities had earlier determined to desk the Invoice within the Winter Session of Parliament and, sources acknowledged, it might later be referred to the Standing Committee for additional deliberations.
The Invoice seeks “to create a facilitative framework for the creation of the official digital forex to be issued by the Reserve Financial institution of India”.
The Invoice additionally seeks to ban all personal cryptocurrencies in India however it permits for sure exceptions to advertise the underlying know-how of cryptocurrency and its makes use of.
The Invoice was among the many 26 new Payments on the agenda of the federal government for introduction and passage through the winter session which started on November 29.

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