{"id":44484,"date":"2021-06-17T10:11:23","date_gmt":"2021-06-17T07:11:23","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=44484"},"modified":"2025-08-31T17:10:21","modified_gmt":"2025-08-31T14:10:21","slug":"bloomberg-india-to-revisit-bill-banning-cryptocurrencies","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bloomberg-india-to-revisit-bill-banning-cryptocurrencies\/","title":{"rendered":"Bloomberg: India to revisit bill banning cryptocurrencies"},"content":{"rendered":"<p>The Indian government will amend the bill banning cryptocurrencies and consider regulating this class of assets. <a href=\"https:\/\/www.bloombergquint.com\/business\/government-reviewing-key-parts-of-cryptocurrency-billbq-exclusive\">Bloomberg<\/a> reports, citing an informed source.<\/p>\n<p>The bill &#8216;On Cryptocurrencies and Regulation of Official Digital Currencies&#8217; <a href=\"https:\/\/u1f987.com\/en\/news\/indian-parliament-to-consider-bill-banning-cryptocurrencies\">was tabled for consideration<\/a> in the budget session of the Indian Parliament, but it was never introduced. A Bloomberg source says the government, in conjunction with regulators and other stakeholders, has decided to revisit key aspects of the document.<\/p>\n<p>Discussions are reportedly centered on three questions:<\/p>\n<ul class=\"wp-block-list\">\n<li>whether cryptocurrency trading should be banned in India;<\/li>\n<li>whether cryptocurrencies can be regulated rather than banned outright;<\/li>\n<li>which crypto-related activities should be allowed and which should be prohibited.<\/li>\n<\/ul>\n<p>The bill&#8217;s provisions are being revised line by line. Parallel discussions are under way with regulators and technical experts.<\/p>\n<p>Since April 2021, Indian companies <a href=\"https:\/\/u1f987.com\/en\/news\/india-requires-companies-to-disclose-cryptocurrency-assets\">are required to report digital-asset transactions, their volumes, and any advances and deposits from any person<\/a>.<\/p>\n<p>In May, reports indicated the government would consider forming a committee to study the possibility of <a href=\"https:\/\/u1f987.com\/en\/news\/media-india-to-study-regulating-bitcoin-as-a-digital-asset\">regulating cryptocurrencies as digital assets<\/a>, and various applications of blockchain.<\/p>\n<p>In June, the Enforcement Directorate of the Indian Ministry of Finance said that one of the country&#8217;s largest bitcoin exchanges \u2014 WazirX, owned by Binance \u2014 <a href=\"https:\/\/u1f987.com\/en\/news\/binance-owned-wazirx-suspected-of-money-laundering\">is under investigation for suspected breaches of currency regulations<\/a>.<\/p>\n<p>Follow ForkLog news on <a href=\"https:\/\/vk.com\/forklogcom\" target=\"_blank\" rel=\"nofollow noopener\">VK<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Indian government will amend the bill banning cryptocurrencies and consider regulating this class of assets.<\/p>\n","protected":false},"author":1,"featured_media":44485,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1305,278,36],"class_list":["post-44484","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-ban","tag-india","tag-regulation"],"aioseo_notices":[],"amp_enabled":true,"views":"22","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/44484","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=44484"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/44484\/revisions"}],"predecessor-version":[{"id":44486,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/44484\/revisions\/44486"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/44485"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=44484"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=44484"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=44484"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}