Bill to ban all cryptocurrencies to be tabled in Winter Session of Parliament
Darpan News Desk IANS, 23 Nov, 2021 12:14 PM
New Delhi, Nov 23 (IANS) The Union government will move a Bill which seeks to prohibit all private cryptocurrencies in India in the Winter Session of Parliament starting November 29.
It will be called The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021. However, it allows for certain exceptions to promote the underlying technology of cryptocurrency and its usage.
The government's objective is "to create a facilitative framework for the creation of the official digital currency to be issued by the Reserve Bank of India".
The Bill has been listed for introduction, consideration and passing in the Lok Sabha. It is among 26 new Bills, which are to be introduced in the Parliament session beginning November 29.
Prime Minister Narendra Modi had earlier said that all democratic countries need to work together on cryptocurrency and ensure that it does not end up in the wrong hands.
Giving an example of the virtual currency, he had said, "Take cryptocurrency or Bitcoin for example. It is important that all nations work together on this and ensure it does not end up in the wrong hands, which can spoil our youth."
Several high meetings have been held to discuss the regulation of cryptocurrencies. The Parliamentary Stnading Committee had also called for the regulation.
To deal with the ongoing Covid pandemic, India's civil aviation regulator on Friday extended the ban on scheduled international commercial flights till November 30.
Modi reached Rome on Friday morning where he will join other G20 leaders in discussions on global economic and health recovery from the pandemic, sustainable development, and climate change in the first in-person summit of the G20 since the outbreak of the pandemic in 2020.
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Ahead of Diwali, the Supreme Court on Thursday said the firecracker ban order needs to be strictly followed. A bench headed by Justice M.R. Shah emphasized that it is not against any particular festival, but it is also essential to protect the right to life. The bench also comprising Justice A. S. Bopanna said: "We do not want to come in the way of enjoyment, but for enjoyment one cannot play with the fundamental right of others."
Lakhbir's family -- wife, daughter, brother and father -- went to meet Union Home Minister Amit Shah at his residence but as he was unavailable, they met the staff of the Home Minister and put forth their demands.
Organised by EcoSikh and Clean Air Punjab, a citizen's collective working on the issue of air pollution, over 50 prominent citizens across the state attended the meeting.
