indian parliament

Indian Government Answers Questions About Crypto Legalization, Fraud Prevention

April 6, 2023 Bitcoin.com

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The Indian government has responded to parliamentary questions about the legalization of cryptocurrency and the steps it has taken to prevent crypto-related fraud. “Crypto assets are currently unregulated in India. Frauds relating to crypto are dealt with under extant laws against fraud and cybercrime,” the Minister of State for the Ministry of Finance told parliament. […]

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Parliament Member Says 1% TDS Will Kill Crypto Asset Class in India, Urges Government to Reconsider

March 28, 2022 Bitcoin.com

1% TDS

An Indian parliament member has warned that imposing a 1% tax deducted at source (TDS) on every crypto transaction will kill the nascent asset class. This tax provision is contained in Finance Bill 2022 which Lok Sabha, the lower house of India’s parliament, has passed. However, India’s finance minister insists that the TDS on crypto […]

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RBI Crypto: Indian Government Says Central Bank Has No Plan to Issue Cryptocurrency

March 17, 2022 Bitcoin.com

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The Indian government has told parliament that it does not have a plan to issue cryptocurrency to be regulated by the central bank, the Reserve Bank of India (RBI). The government also clarified that India’s central bank digital currency (CBDC), that the RBI will launch this financial year, is “a digital version of traditional paper […]

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Former Finance Secretary Doubts Indian Government Understands Crypto

December 24, 2021 Bitcoin.com

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The Indian government has not introduced the cryptocurrency bill that was listed to be taken up in the winter session of parliament. Former Finance Secretary Subhash Chandra Garg says he has no confidence in the ability of the Indian government to figure out crypto. Garg headed the inter-ministerial committee that drafted the original crypto bill […]

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Indian Government Seeks Wider Consultation Before Finalizing Crypto Bill: Report

December 20, 2021 Bitcoin.com

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The cryptocurrency bill that was listed to be taken up in the current session of parliament is reportedly being reworked. The government seeks wider consultation on crypto before finalizing the rules to govern digital currencies in India. Indian Government Seeks More Consultation on Proposed Crypto Legislation India’s cryptocurrency bill is unlikely to be introduced in […]

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Indian Lawmaker Says Crypto Must Be Blocked if Used for Illegal Purposes

December 20, 2021 Bitcoin.com

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India’s minister of state for external affairs says that cryptocurrencies must be blocked if they are used for illegal purposes, such as “to launch cyber-attacks in India, to launch other attacks on India, to do other kinds of illegal and unethical work like drug trafficking.” Meanwhile, the Indian government is reportedly making changes to the […]

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Indian Finance Minister Reveals Crypto Bill Had to Be Reworked Before Submitting to Cabinet

December 1, 2021 Bitcoin.com

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India’s finance minister, Nirmala Sitharaman, has revealed that the previous version of the cryptocurrency bill the government is pushing needed to be reworked. “This bill, once the Cabinet clears, will come into the House,” the finance minister told Rajya Sabha, the upper house of India’s parliament. Indian Government Pushing New Crypto Bill Finance Minister Nirmala […]

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Indian Parliament Committee Discusses Crypto Regulation With Industry Experts

November 15, 2021 Bitcoin.com

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India’s parliamentary committee on finance has held a meeting with representatives from the crypto industry and other stakeholders on cryptocurrency and its oversight. “There was an understanding that cryptocurrency can’t be stopped but it must be regulated” and “There was a consensus that a regulatory mechanism should be put in place to regulate cryptocurrency.” First […]

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