Indian Parliament to Consider Bill That Creates Digital Rupee While Banning Cryptocurrencies in Current Session
The Indian government has finally moved forward with a cryptocurrency bill. Entitled “The Cryptocurrency and Regulation of Official Digital Currency Bill 2021,” the bill has been listed for consideration in the current parliamentary session of Lok Sabha, the lower house of India’s parliament. It seeks to create a framework for India’s official digital currency to be issued by the Reserve Bank of India (RBI) but prohibit all cryptocurrencies. Indian Government Set to Introduce Cryptocurrency Bill in Current Parliamentary Session After almost two years of waiting, the Indian government has finally moved forward with a cryptocurrency bill. According to Lok Sabha’s bulletin dated Jan. 29, the bill entitled “The Cryptocurrency and Regulation of Official Digital Currency Bill 2021” is listed for consideration in the current parliamentary session. The budget session of Parliament commenced on Friday and will conclude on April 8, with a recess between Feb. 15 and March 8. The union budget w