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India Set to Defer Introduction of Crypto Bill in Parliament

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India’s much-awaited cryptocurrency bill is unlikely to be presented in the ongoing session of parliament as the government has yet to finalize details of the legislation, according to people with knowledge of the matter. 

Prime Minister Narendra Modi’s administration wants wider consultations on the matter before finalizing the rules to govern digital currencies and there isn’t enough time as the current session ends Dec. 23, the people said, asking not to be identified as the discussions are private. Also, the Cabinet hasn’t approved the proposed legislation.