Q Why is it in News ?
A The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 was listed for introduction in Parliament’s Winter Session.
Q What are some details about the Bill ?
A
Q How are cryptocurrencies regulated in countries around the world?
A The stance of countries and regulators has ranged from:
Among the countries that haven’t issued detailed regulations, there are those that have recognized and defined these currencies.
CANADA
(a) a digital representation of value that can be used for payment or investment purposes that is not a fiat currency and that can be readily exchanged for funds or for another virtual currency that can be readily exchanged for funds; or
(b) a private key of a cryptographic system that enables a person or entity to have access to a digital representation of value referred to in paragraph (a).
ISRAEL
GERMANY
UNITED KINGDOM
UNITED STATES
THAILAND
Q What can be Way forward ?
A