Crypto regulations, details regarding crypto Bill which may not introduced in winter session of parliament.
According to past reports ,Indian government may take steps to regulate Cryptocurrency and create Crypto bill.
The Finance ministry draft a notice and proper detail that have been submitted on Crypto bill regulations.
The reports tells crypto Bill concern regarding cryptocurrency maintaining, dealing with cryptocurrency and proper customer KYC included with the solutions offered.
As reported earlier, Government decided to work on it.
Finance ministry told that government will bring the Bill after cabinet clears it.
IMPORTANT POINTS-
- Cryptocurrency Bill proposed chances for creation of an official cryptocurrency of Reserve Bank of India which will regulated under RBI act.
- Ban or prohibited Private cryptocurrency in India
- Any offence regarding could be punished with 1.5 years jail and fine upto 50 crore.
- Allowance of crypto if they are promoting great Technology in digital world .
- CryptoAssets are used instead of Cryptocurrency.
- Regulations of Crypto trading, mining and investment of those who are investing money in cryptocurrency.
Cryto Blockchain technology-
Every cryptocurrency have their own projects and protocols based on Blockchain technology, on which that particular crypto works.
There is more than 15 million people investing money on cryptocurrency and the number increasing on daily basis because Crypto greatly impact digital world and digital technology.
The panicking time of crypto holders is going through a week or more than a week as Crypto market going down and fluctuates.
According to sources, government may observe and watch it and take further steps regarding Crypto assets and Crypto Bill.
Crypto Bill may not be proposed in winter session of parliament.
Cryptocurrency regulations issues regarding crypto bill need brief discussion since it's global Market industry of $2.20 trillion.
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Writer- Simran Bhardwaj
Email - sbhrd11@gmail.com
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