The Indian government previously told the supreme court that the country’s cryptocurrency bill may be introduced in the Winter session of parliament. However, the crypto bill is not included in the agenda published by Lok Sabha, the lower house of India’s parliament. This gives the community a sigh of relief as many have been campaigning to convince the government to reevaluate the bill.
Also read: Indian Supreme Court Postpones Crypto Case to November, New Date Confirmed
‘Great News’ – Crypto Bill Delayed
The government of India has been deliberating on a draft bill entitled “Banning of Cryptocurrency & Regulation of Official Digital Currency Bill 2019.” The government told the country’s supreme court in August that this bill may be introduced in the Winter session of parliament. However, Lok Sabha, the lower house of the Indian parliament, published the agenda for the Winter session on Thursday which does not include the cryptocurrency bill. Sohail Merchant, CEO of local crypto exchange Pocketbits, remarked on Friday:
Draft bill for banning of crypto is not on the agenda for [the] parliament Winter session. Relief for now, but use this time to come together and present our case to the regulators.
The Winter session starts on Nov. 18 and ends on Dec. 13. Nischal Shetty, CEO of Wazirx crypto exchange, tweeted: “Great news for the crypto ecosystem of India. The draft crypto banning bill will not be included in the upcoming parliament session of November 2019. Great to see [the] Indian government not rushing into this. They’re listening.”
The bill to ban all cryptocurrencies except state-issued ones was drafted by an interministerial committee (IMC) headed by former Secretary of the Department of Economic Affairs Subhash Chandra
