Finance Minister Nirmala Sitharaman today(30th Nov.2021) clarified in Rajya Sabha that the government is not considering a ban on cryptocurrency advertisements and that a bill will be introduced in Parliament after Cabinet approval.
"This is a risky area and not in a complete regulatory framework. We are not considering a ban on advertisements, but we've been taking steps to caution the public through RBI and SEBI. The guidelines of the Advertising Standards Council of India are being studied and the regulations that they have are being looked into so that we can make a decision on how to handle it, if necessary," said Sitharaman.
The government will soon introduce a Bill related to cryptocurrencies once the Cabinet clears it, she added.
Last week, the government had listed a bill for the ongoing winter session of Parliament seeking to ban all private cryptocurrencies.
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