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Govt working on a new bill on cryptocurrency: Sitharaman tells Rajya Sabha
Cryptocurrency
Image Credit: UNI

Govt working on a new bill on cryptocurrency: Sitharaman tells Rajya Sabha

| @indiablooms | 30 Nov 2021, 05:01 pm

New Delhi/IBNS: The government is working on a new bill on cryptocurrency and it will be presented before the Union Cabinet soon for approval, Finance Minister Nirmala Sitharaman told the Rajya Sabha on Tuesday.

"The risk of cryptocurrency and it going in the wrong hands is being monitored," the Finance Minister said.

Former Bihar deputy chief minister asked whether the government was considering a ban on misleading ads until the Crypto bill comes.

To this Sitharaman replied, "There are ad guidelines that are being looked into to take a position on the issue."

Sushil Modi further asked if the Centre will bring a separate framework on the NFTs (non-fungible token)?

"At this point, I won't be able to say if there will be a framework. But all these matters are being discussed," she replied when Sushil Modi raised the question.

Finance Minister said she doesn't have the information about how much tax has been collected on cryptocurrency when asked how many people paid income tax on cryptocurrency.

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