The central government has proposed to introduce a Bill on cryptographic money in the forthcoming Winter Session of Parliament to work with the formation of the authority computerized cash to be given by the Reserve Bank of India (RBI). The Bill, named “The Cryptocurrency and Regulation of Official Digital Currency Bill, 2024”, will be up for presentation and passing in Parliament.
As per a Parliament notice, “The expressed aim of the Bill is to make a facilitative structure for the production of the authority computerized money to be given by the Reserve Bank of India.” The Bill likewise tries to forbid all private digital currencies in India. Nonetheless, it takes into consideration certain special cases to advance the fundamental innovation of cryptographic money and its employments. Generally, the Center plans to present a sum of 26 new Bills in the Lok Sabha in the coming Winter Session.