The Indian government is reportedly considering taking “the ordinance route” to quickly pass the cryptocurrency bill. “The government is of the firm view that they want to introduce the law within a month of clearance of the ordinance,” a local news outlet detailed.
Indian Government Seeks to Quickly Pass Crypto Bill
All eyes are on what the government of India will do with the cryptocurrency bill that is listed to be introduced in the current session of parliament. The bill seeks to ban cryptocurrencies while creating a framework for the official digital currency to be issued by the central bank, the Reserve Bank of India (RBI).
On Friday, CNBC-TV18 reported that “The government may take the ordinance route to pass the Cryptocurrency and Regulation of Official Digital Currency Bill,” citing unnamed sources. The news outlet elaborated:
The PMO, Finance Ministry, and Cabinet Secretariat have started preparing the draft details of the ordinance. The government is of the firm view that they want to introduce the law within a month of clearance of the ordinance.