The Narendra Modi government will soon bring in a new bill on cryptocurrency after it is approved by the union cabinet, said union finance minister Nirmala Sitharaman on Tuesday in the Rajya Sabha.
A Bill on Cryptocurrency and Regulation of Official Digital Currency for introduction in the Lok Sabha has been included in the Lok Sabha Bulletin-Part II, as part of the government business expected to be taken up during the ongoing winter session.
The bill seeks to create a facilitative framework for the creation of the official digital currency to be issued by the Reserve Bank of India (RBI). It also seeks to prohibit all private cryptocurrencies in India.
When asked if the government will ban cryptocurrency advertisements, the finance minister said the Centre is looking at the guidelines for advertisements.
To discuss this, Startup Street spoke to Rameesh Kailasam, CEO of IndiaTech.org.
Also, watch Startup Street in conversation with Akash Sinha, co-founder & CEO of Cashfree Payments who spoke about the company’s $15 million investment in UAE and Saudi Arabia based-payment service provider, Telr.
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