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.
The group was also found to have been involved in receiving a substantial part of sale consideration in cash and thereby suppressing the turnover. The seized documents reveal suppression of turnover of around Rs 90 crore per annum. Incriminating documents related to the undisclosed sale of scrap have also been seized, the department said in a statement.
Reacting strongly to the IGI airport authorities sending Darshan Singh Dhaliwal back to the US after denying him entry to India, five-time Punjab Chief Minister Parkash Singh Badal on Tuesday asked Prime Minister Narendra Modi to "intervene personally and effectively" to get the order vacated.
One incident was reported in the Bhai Gurdas Institute of Engineering and Technology located on the outskirts of Sangrur town, while another was reported from Rayat Bahrat University in Kharar in Mohali district.
Addressing a youth rally at Sher-e-Kashmir International Convention Centre (SKICC) on the banks of the Dal Lake in Srinagar, Amit Shah lashed out at former Chief Minister Dr. Farooq Abdullah.
Terming the trolling unfortunate and shameful, the Hyderabad MP said it shows how communalism, radicalisation, and hatred against Muslims has spread in the country.
The Punjab government on Friday ordered a probe into former Chief Minister Amarinder Singh's relations with his Pakistani woman friend Aroosa Alam and her relation with the ISI. Deputy Chief Minister Sukhjinder Randhawa said the government would probe the ISI links of Aroosa Alam.
