Union Finance Minister Nirmala Sitaram has given an important update today on the proposed draft bill for cryptocurrencies. Nirmala Sitaram has rubbished all the rumors in the Rajya Sabha that it was being told that cryptocurrencies will be banned in India. Since the announcement that the Modi government will introduce a crypto bill in Parliament, there have been reports that the Indian government is considering banning the use of crypto in the country. But now the statement of Finance Minister Sitharaman is telling a different matter from this. He said that the central government will soon introduce a new bill on crypto, the “Cryptocurrency and Regulation of Official Digital Currency Bill, 2021”. After getting approval from the Union Cabinet, it will be introduced in the Parliament. Changes have been made to the previous bill on cryptocurrency.
Let us tell you that the current government has not decided to ban the advertisements displayed by crypto exchanges. A final decision will be taken in the coming days after the bill is introduced. Sitaram has also warned investors to invest in cryptocurrencies and said that people should be careful while investing in cryptocurrencies. The use of cryptocurrencies carries the risk of unwanted activity and is being monitored by the government. This is being debated at many levels.