FinTech / Digital Currency•Ministry of Finance / RBI•2021 → 2026
Cryptocurrency and Regulation of Official Digital Currency Bill
Status: Notified on legislative agenda but shelved
Category: Cryptocurrency & FinTech
Successor: CBDC (e-Rupee) pilots by RBI + Anti-Money Laundering (PMLA) oversight
Executive Inquest Summary
“Listed on Parliament bulletin for introduction in 2021 to ban private cryptos, but never tabled.”
1. Original Objective & Statutory Design
Listed on Parliament bulletin for introduction in 2021 to ban private cryptos, but never tabled.
2. Implementation Architecture & Frontline Delivery
Administered under Ministry of Finance / RBI
3. Rationale for Action, Repeal or Replacement
Government awaiting G20-wide global regulatory consensus; opted instead to discourage crypto via 30% capital gains tax + 1% TDS + FIU-IND compliance.
Subsequent Legal or Administrative Framework:
CBDC (e-Rupee) pilots by RBI + Anti-Money Laundering (PMLA) oversight
4. Empirical Evidence & Official Documentation
Documented in historical gazettes and administrative review records.
What Should Be Retained, Redesigned, or Revived?
Policy evolution requires institutional continuity, documentation of street-level delivery constraints, and memory preservation.
Verified Administrative & Evaluation Sources
- Official Gazette of India
- Parliamentary Administrative Archives
Related Policy Records in FinTech / Digital Currency