Indian Finance Minister Nirmala Sitharaman, on Tuesday, cleared that the government is closely monitoring crypto advertisements and that is not the only reason for the ban on crypto ads. The Indian government is set to introduce a crypto bill in the parliament in the current parliamentary session. This bill will be based on the 2019 draft bill and recommendations from the crypto experts.
Though the status of the regulation or complete ban on cryptocurrency is still a question and the minister insisted on having patience till the bill is introduced.
As of now, the Indian government has no plans on recognising cryptocurrencies such as Bitcoin as a currency. However, the finance minister also cleared that the central bank is working on a way to implement and regulate digital currency in India.
