Crypto Bill Deferred, No Cabinet Approval Yet: Report

The Cryptocurrency Bill is unlikely to be presented in the ongoing winter session of Parliament as the Centre is yet to finalize details of the legislation, news agency Bloomberg reported citing people familiar with the development.

New Delhi: The much-awaited Cryptocurrency Bill is unlikely to be presented in the ongoing winter session of Parliament as the Centre is yet to finalize details of the legislation, news agency Bloomberg reported citing people familiar with the development. Prime Minister Narendra Modi's cabinet wants wider consultations on the matter before finalizing the rules to govern digital currencies and there isn't enough time as the current session ends December 23, the report added.

Last week, NDTV also reported that the Bill might not be brought into Parliament in this session, signalling that the government doesn't want to rush on the law.

Sources said that there could be more changes in the Crypto Bill and the Centre might consider bringing an ordinance or special order after the session.

The schedule for the last week of the Parliament session has dropped the Cryptocurrency Bill from the list of businesses put up on its website.