NEW DELHI: With Just one more week left for Parliament’s Winter Session and the union cabinet yet to discuss draft cryptocurrencies bill, experts feel that the bill may be pushed again for the budget session.
“The draft was not discussed at the cabinet meeting today. That only a week is left, I do not think that the government will do it in haste, over a subject which is so complex. It won’t hurt if the bill is postponed to next session,” a senior finance ministry official told TNIE.
The Parliament’s Winter Session is ending on Dec 23.
The government had listed the Cryptocurrency and Regulation of Official Digital Currency Bill 2021 for tabling and passage in the session.
The government is working on the new bill and once the draft will be approved by the cabinet, it is expected to be presented in the winter session.
Finance Minister Nirmala Sitharaman has told Lok Sabha the Bill was in final stages of consultation for the consideration of cabinet.
She had earlier said that the government would bring a ‘well consulted’ legislation.
Earlier this month, Confederation of Indian Industries (CII) had said that the government should consider cryptocurrency as special asset class.
It is also recommended to impose tax reporting requirements on participants who are investing or dealing in crypto assets through specific disclosures in income tax returns.