This was denied by the Finance Minister while giving a written reply in the House. It was answered that it is not so. The government was also asked whether it collects data on bitcoin transactions happening in the country. To this also the Finance Minister replied in the negative and said that the government does not collect any data of bitcoin transactions.
Another important proposal from the government was informed during the session. It was told in a written statement that the government had received an important proposal from the Reserve Bank of India in October regarding digital currency. According to the government, the Reserve Bank has proposed that digital currency should also be kept in the definition of bank note i.e. digital currency should also be seen as a ‘bank note’. For this, RBI has proposed to amend the law. The government has been informed that RBI had proposed a Central Bank Digital Currency (CBDC) in October. CBDC- Primarily a digital form of traditional currency. That is, it is the digital rupee itself.
Recently, it was reported that the government is going to bring a bill regarding cryptocurrencies in the winter session of Parliament, in which preparations are being made to ban all private cryptocurrencies with some exceptions. The official document that came out regarding the bill states that this bill talks about banning all private cryptocurrencies with ‘some exceptions’. However, there is no clarity in the document on what exceptions the government is talking about. A few days ago, it was also reported that the pilot of the Reserve Bank of India’s digital currency could be launched in the first quarter of the next financial year.
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