The Parliamentary Panel on Cryptocurrencies held its first major meeting, not a ban, but solidarity in regulation! – Parliamentary panels for the regulation of cryptocurrencies.

History highlights

  • All stakeholders related to cryptocurrencies participated in the meeting.
  • MPs raised questions about tantalizing ads

The first meeting of the Parliamentary Panel on Cryptocurrencies was held on Monday. According to sources, at this meeting led by BJP leader Jayant Sinha, it was agreed that crypto and blockchain technology should not be banned completely. It is necessary. regulate this properly. (Cryptocurrency Regulation).

During this meeting, the Parliamentary Standing Committee discussed cryptocurrencies with representatives of cryptocurrency exchanges, industry bodies, and other stakeholders. The increasing investment in cryptocurrencies in recent years has generated financial risks and many more.

The need to keep a close eye on cryptocurrencies

If the sources are to be believed, it was agreed at the parliamentary meeting that a regulatory mechanism should be established to regulate cryptocurrencies. However, it was unclear from industry associations and stakeholders who should be pulling the strings.

Sources said Members of Parliament (MPs) on the panel also raised concerns about the safety of investors’ money. At the same time, he questioned newspaper advertising promoting cryptocurrencies.

The ANI news agency cited sources who said that MPs also want to share their concerns regarding cryptocurrencies. Appear in front of a panel of government authority to remove it. However, he did not say which government officials would be called.

The meeting was held on November 13 under the leadership of the PM.

Let us tell you that the Modi government is in action regarding cryptocurrencies. A meeting on this issue was held on November 13 under the leadership of Prime Minister Narendra Modi himself. This meeting took place after the joint consultation process of the Reserve Bank, the Ministry of Finance and the Ministry of the Interior, in which the ministries consulted experts from different countries and around the world on cryptocurrencies.

The central government is said to be ready to introduce a comprehensive cryptocurrency bill, which can be tabled in the upcoming winter session of Parliament. According to the India Today report, the Cryptocurrency Finance Standing Committee will hold the next meeting on November 15. In which all its aspects will be considered.

RBI’s concern about cryptocurrencies

It is worth noting that the Reserve Bank of India (RBI) has already presented its version regarding cryptocurrencies to the government. The central bank on Friday clarified its position on digital assets, saying it has serious concerns about it. RBI Governor Shaktikanta Das says there is no change in the RBI’s position on virtual currency. We have big concerns about cryptocurrencies, which we have communicated to the government. He said that investors should also be very cautious with digital currency.

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