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The status of a proposed cryptocurrency bill in India is still uncertain as of April 2021. Though the Indian government has been considering introducing such a regulation for some time now, no concrete steps have been taken in this regard so far. As per the latest reports, the Reserve Bank of India (RBI) is expected to come out with its own version of digital currencies and other related regulations sometime in 2021 or 2022, but there is no clear timeline on when those regulations will be officially released. So it remains unclear whether India’s crypto bill will pass by 2023 or not.
As of April 2021, it is still unclear how the proposed cryptocurrency bill in India is progressing. While pondering the introduction of such a legislation for some time, the Indian government has not yet taken any actual action. The Reserve Bank of India (RBI), according to the most recent rumours, is anticipated to produce its own version of digital currencies and other relevant rules sometime in 2021 or 2022, although there is no set date for their official publication. So, it is yet unknown if India’s crypto bill will be passed by 2023 or not.
At this time there has not been an official bill proposed for the regulation of cryptocurrency in India, so it is impossible to tell if it will be passed in 2023. Indian cryptocurrency exchanges are currently working with the Inter-Ministerial Committee (IMC) that was set up by the Indian government to look into various aspects of cryptocurrencies and blockchain technology and to make suitable recommendations on regulations. The IMC has yet to submit its report, but it is expected that a bill based on the recommendations put forth by the IMC could be introduced before 2023.