Discussions on cryptocurrency have been going on for the last few days. The Centre had also signaled restrictions on private cryptocurrencies. Meanwhile, Finance Minister Nirmala Sitharaman, while answering a question, clarified that there is no proposal to recognise Bitcoin as a currency in the country. She also clarified in a written reply that she does not keep any data on the transactions made by Bitcoins.
Does the government have any plans to recognize Bitcoins as a currency in the country? This question was asked to Finance Minister Nirmala Sitharaman. She replied no.
Also, does the government have any information about the increase in Bitcoin transactions? Such question was asked to her. Responding to this, she said that the government does not keep any data on the transactions made through Bitcoin.
During the winter session of Parliament starting Monday, the Centre aims to table the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, which reportedly seeks a ban on all private cryptocurrencies.
Bill on cryptocurrency
The Centre's objective is "to create a facilitative framework for the creation of the official digital currency to be issued by the Reserve Bank of India". The Bill has been listed for introduction, consideration and passing in the Lok Sabha. It is among 26 new Bills, which are to be introduced in the Parliament's Winter session.