Crypto exchanges hope that 2022 will be a big year for them as they are also awaiting an upcoming Bill that regulates the market.
They also suggested that whenever a bill will be brought, it will be referred to the parliamentary standing committee for wider deliberations with stakeholders.
The Parliamentary Committee on Home Affairs has voiced concerns over the increasing use of digital currencies and darknet for drug trafficking.
Lesson from farm laws: Government going slow on crypto-currency, other major bills in winter session
The government had unveiled plans to seek parliamentary nod for a total of 29 bills, including three that had been previously introduced in the lower house.
The NFT buzz reached a high decibel when actor Amitabh Bachchan and cricketer Dinesh Karthik spoke in October 2021 about selling NFTS to possibly make millions.
The cryptocurrency bill seeks to create a facilitative framework for the creation of the official digital currency to be issued by the Reserve Bank of India (RBI), the Bulletin said.
Siddharth Menon, COO and Co-Founder at WazirX tweeted, “Big day for crypto in India. I am feeling more positive.”
These also include a bill to repeal the three farm laws, a proposal for which is to be discussed by the Union Cabinet on Wednesday.