Crypto Bill to be delayed in India, investors' questions remain unanswered
India's Crypto Bill to be discussed in the winter session of the Parliament has attracted a lot of eyes from different zones around the world. The nation's approach to cryptocurrencies is a matter of wide speculation, and as per reports from several media outlets, the bill is not on Parliament's agenda for Wednesday. A delay is definitely possible.
Crypto Bill might be delayed by weeks
The Indian Crypto Bill might be delayed by a number of weeks. The only opportunity for discussion of the bill stands on Dec 22, the last day of the current hearing process. If the Parliament doesn't discuss cryptocurrencies next Wednesday, we might see it up for discussion in the later Jan or Feb 2022 sessions.As per the rule, for any bill to be a matter of debate in Parliament, a draft needs to be presented to the Cabinet before the actual one is put up for discussion. It seems that time is running for the Narendra Modi-led government for the formal drafting and ruling of the Crypto Bill in the nation.
Last-minute changes
There are some definitions that remain unclear in the Crypto Bill. Firstly, banning private cryptocurrencies has aroused a lot of fear among individuals because the government hasn't clarified what 'private' cryptocurrencies are. Furthermore, the government also aims to ban any crypto-related transaction that would also be including mining and validation of transactions.In order to clear such questions raised by the cryptocurrency community, last-minute changes are being made in the Crypto Bill. As per deeper digging from the local media, the bill will be unlikely to be discussed in the upcoming session this week because of the rapid and ever-evolving cryptocurrency industry. The reports said that before actual approval, there are a number of things that need to be brushed upon.
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