What is special in the Cryptocurrency Bill, Know Here in this Report

November 24, 2021

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Amid concerns over Cryptocurrency, the Union Cabinet is set to take the decision, says finance minister Nirmala Sitharaman. The government is ready to introduce “The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021″ in the winter session of Parliament beginning 29 November for consideration and passing.

Prime Minister, Shri Narendra Modi had conveyed to citizens that the whole world should work on cryptocurrency so that it does not fall into the wrong hands. Modi in Sydney said if cryptocurrency goes into the wrong hands, it can ruin our youth. He also said we are in the changing era where data have emerged as a weapon.

He also added the framework to manage and track investments made in cryptocurrencies. Today the digital age is changing which is refining our society and economy. During the meeting, all aspects of cryptocurrencies were discussed and global examples and best practices were also looked at.

In the meeting, it is also discussed that the unregulated crypto markets cannot be allowed to become avenues for money laundering and terror financing. The non-transparent advertising to mislead the young investors through non-transparent advertising should be stopped.

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