Finance Minister Nirmala Sitharaman told Raja Saba today that a new bill on cryptocurrencies is underway and will soon be submitted to the federal cabinet for approval.
Among the concerns about cryptocurrencies, the top five citations of Nirmala Sisalaman are:
“Cryptocurrencies and the risks of their misuse are being monitored,” the Finance Minister told Rajasaba today. Her remarks are in the midst of industry expectations for new government regulations.
“There were other aspects, and we had to rewrite the bill, and now we’re working on a new bill,” she said today. She quoted RBI, SEBI and government statements, emphasizing that investors need to remain cautious.
Is the government considering banning misleading advertising until the crypto bill comes? When asked by former Bihar Finance Minister Susir Modi, she said, “There are advertising guidelines that are being considered to take a position on this issue.”
Will the Center bring another framework to NFT (Non-Fungible Tokens)? “At this point, I can’t say if there is a framework, but all these issues are being discussed,” she replied when Susir Modi asked the question.
When asked how many people paid income tax on cryptocurrencies, the Minister of Finance said, “I don’t have any information about how much tax was levied on cryptocurrencies.”