Home / News / India /  Cryptocurrency Bill among 26 to be introduced in Winter Session of Parliament
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As many as 26 new Bills have been listed for introduction in the Winter Session of the Parliament, including three Ordinances, that starts on 29 November, according to the legislative agenda for the upcoming session released today.

A long-pending bill to deal with cryptocurrencies will be introduced in the Parliament during the Winter Session. Apart from this, the Winter Session will consider the banking amendment bill, repeal of farm laws, IBC amendment bill.

The cryptocurrency and Regulation of Official Digital Currency Bill, 2021 "seeks to prohibit all private cryptocurrencies in India, however, it allows for certain exeptions to promote the underlying technology and its uses".

The bill aims to create a facilitative framework for creation of the official digital currency to be issued by the Reserve Bank of India.

The new bills will be introduced in Parliament before being taken up for passage.

This comes days after the first-ever Parliamentary panel discussion on the broad contours of crypto finance, where a consensus was reached that cryptocurrency can't be stopped but must be regulated.

The panel met days after Prime Minister Narendra Modi chaired a high-level meeting with officials from various ministries and the RBI on the issue of cryptocurrency.

According to reports, the meeting strongly felt that attempts to mislead the youth through over-promising and non-transparent advertising be stopped.

It was also discussed that unregulated crypto markets cannot be allowed to become avenues for money laundering and terror financing.

The meeting was an outcome of a consultative process as the RBI, the Finance Ministry, the Home Ministry had done an elaborate exercise on it as well as consulted experts from across India and the world.

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