The Finance Minister told Rajya Sabha that the risk of cryptocurrencies and it's going in the wrong hands is not being monitored. She made a statement about government regulation in the midst of industry anticipation.
She said that there were no other dimensions and the bill had to be reworked. She said that now we are trying to work on a new bill. She underlined that investors need to be cautious, citing statements from the RBI, the SEBI and the government.
Is the government considering banning ads that are misleading until the bill onCryptocurrencies comes? As former Bihar Finance Minister Sushil Modi asked the question, she said there are ad guidelines that are being looked into to take a position on the issue. I won't be able to say if there will be a framework for the NFTs non-fungible token. She replied when Sushil Modi raised the question, all these matters are being discussed.
The Finance Minister said there wasn't any information about how many people paid income tax on cryptocurrencies.