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Indian government officials reportedly said that India’s cryptocurrency bill will require more time because crypto is a complex subject. The bill is therefore unlikely to be introduced in the upcoming session of parliament. The government reportedly wants to hold more discussions to build a consensus on a regulatory framework for crypto.
Crypto Bill Unlikely to Be Introduced in the Budget Session of Parliament
The Indian government may not introduce a cryptocurrency bill in the upcoming session of Parliament, the Economic Times reported Wednesday.
The government wants to hold more discussions and build consensus on the regulatory framework for cryptocurrency, the publication conveyed, citing unnamed government officials with knowledge of the matter. A senior finance ministry official told the publication:
The crypto bill may not be introduced in the budget session. It is a complex subject. This will require more time.
A cryptocurrency bill was listed to be considered in the winter session of parliament but it was not taken up. The government is now reportedly reworking the bill.
The official further explained to the news outlet that