New Delhi (JNN). A very strange situation has arisen in the country regarding crypto currency. Those who have invested money in this have also suffered a tremendous setback due to the sudden fall in its price on Tuesday. In the global cryptocurrency market, other virtual currencies including bitcoin have also exploded. In the last few years, its trend has spread very fast in many countries of the world and people’s interest has also increased in it. Talking about India, PM Narendra Modi himself has warned the people of the country about this crypto currency. Now the government wants to work by going one step further than this. In fact, the Center is preparing to introduce a bill in the upcoming winter session for the prevention of crypto currency. People’s heartbeat has increased a lot regarding this too. This is because money has been invested in it from India as well. The winter session of Parliament will begin on November 29 and conclude on December 23.

Significantly, in the past, PM Modi had appealed to the whole world to join hands in its prevention and take steps. He had even said that if it falls into the wrong hands or networks, it can ruin the lives of the youth. During the Sydney Dialogue, the impact of the appeal made by the PM to prevent it from falling into the wrong hands, it will be known in the real sense only in the time to come. The concern of the government, which is preparing to put a stop to this, is also about the fact that it can become a major means of fostering terror. However, according to the Reserve Bank of India, there are currently no special regulations in our country to ban crypto currency.

At the same time, the government does not want to back away from the ban on it. This is the reason why PM Modi had a meeting with senior officials regarding this. The bill that the government is trying to bring in the coming winter session will focus on reducing the risk of investors. The country’s finance minister has already said on crypto currency that she has high hopes for it. The name of this bill is The Cryptocurrency and Regulation of Official Digital Currency Bill 2021. It also talks about banning private cryptocurrencies in addition to facilitating the creation of an official digital currency issued by the RBI. According to ANI, there has been a demand to ban this currency completely. If this bill is approved by the Parliament, then it will be a big deal.

It is being told that this winter session, about 26 bills including crypto currency will be introduced by the government. A special feature of this bill is that the definition of this virtual currency will be decided in it. Along with this, the rules and regulations regarding this will also become very clear. If we talk about the present, till now even those who have invested money in it do not know much about it. It is also not clear whether it will be a digital asset or can be offered as a commodity. Let us also tell you here that in the year 2018, the Reserve Bank of India had banned the banks and regulated financial organizations supporting its transactions. RBI had also talked about making a law for this within two years.

Let us tell you that the transaction taking place in it has also been declared illegal by the Central Bank of China. Apart from this, China has also talked about taking action against those trading in it. Not only has China taken a tough stand regarding crypto currency, but some other countries are also included in this list. In Egypt, it is considered haram under Sharia law. Similarly, it is banned in Nigeria, Turkey, Indonesia, Bangladesh, Vietnam, Algeria, Bolivia, Ecuador and Qatar.

Edited By: Kamal Verma