Indian parliament's latest agenda includes training session for cryptocurrency
The cryptocurrency and Regulation of the official Digital Currency Bill do not appear as one of the 15 bills the government will consider in the next session.
The agenda for India's lower house of parliament includes "a lecture on understanding cryptocurrency" and its economic impact.
According to Lok Sabha, the Parliamentary research and training institute for Democracies group within the government has organized training for lawmakers regarding crypto and its effects on the Indian economy. The business calendar for the lower house of parliament is no longer adding a bill that could potentially ban crypto in India.
The Cryptocurrency and Regulation of official Digital currency bill do not appear as one of the 15 bills The Indian government considers when it convenes during the budget. before stated texts of the bill propose banning "all private cryptocurrencies" in India except for assets targeted to promoting "the underlying technology of cryptocurrency and its uses."
The proposed has popped up on the country's parliamentary agenda multiple times since the Indian Supreme Court overturned a blanket ban on crypto in 2020 that had been imposed by the central bank. The Reserve Bank of India might be transferred soon with trials of a central bank digital currency (Digital rupee) yet, officials have not announced a test run for the CBDC.
Reports from local media outlets have suggested that some lawmakers in India are seeking different legislative paths to handle the growing crypto market, from proposing projects not being legally allowed to operate in the country to taxing crypto earnings in October, The Finance Ministry said that considered implementing a legal framework. that could treat crypto more like a commodity than a currency.
The Budget session officially will be started from Monday and is expected to run until May. within the Indian Parliament planning to meet in separate shifts to fight the spread of COVID-19.