Finance Minister Nirmala Sitharaman said that the government would introduce the cryptocurrency bill in the Parliament after Cabinet’s approval. She also said that the law of non-fungible tokens (NFTs) is also being considered.

“Government will soon bring a bill after the Cabinet clears it. It was not introduced till now as some other things had to be looked into. Rapidly a lot of things had come into play. The purpose was to improve the bill. ASCI governs advertising & formulates guidelines. All the regulations are being looked at so that we can see what can be done on advertisements.”

She had said that there is no plan to accept Bitcoin as a currency. The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, listed in the ongoing Winter Session of Parliament, bans all private cryptocurrencies in India.