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 activists of Punjab Congress will walk towards Lakhimpur Kheri in Uttar Pradesh if Priyanka Gandhi is not released and the Union Minister's son accused of murder not arrested, said state party President Navjot Sidhu on Tuesday.
Referring to police action against protesting farmers in Congress-ruled Rajasthan, the BJP leader said, "Congress leaders who are very keen to visit Lakhimpur Kheri have not uttered a single word against police lathicharge on farmers in Hanumangarh, Rajasthan."
Comparisons are on in social media whether this arrest could change the Congress fortunes as after Indira Gandhi's arrest and later in the election in 1980 the Congress returned with a thumping majority.
During the 45-minute long meeting with the Home Minister, Channi also discussed the security situation of the state and demanded that the border must be sealed properly to effectively prevent the smuggling of weapons from Pakistan.
It is the largest agricultural protest to take place in India and others from around the world have also joined in, tens of thousands of farmers have camped for months on major highways to New Delhi to oppose the three laws.
