The Indian government decided to skip a bill on cryptocurrency regulations until the next session of Parliament, which will kick off in February, Business Insider reports.
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According to the report, this is the second time that the government postpones "The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021" this year. India's Finance Minister, Nirmala Sitharman, says the bill is still waiting on the sign off for the Cabinet.
Earlier in December, reports said that the Reserve Bank of India (RBI) was considering a complete ban on cryptocurrencies. Particularly, the central bank made a detailed presentation to the board showing "serious concerns" about how cryptocurrencies affect the macroeconomic and financial stability of India.
While details remain undisclosed, one of the sources close to the RBI said that the watchdog emphasized the challenge of regulating intangible assets that originate overseas.
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