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Crypto law in India unlikely to be debated this month, may take a while before it appears

The crypto bill in India has not been named as one of the legislative issues to be debated during the Monsoon Session of Parliament, which begins on 19 July this year. According to IndiaTech CEO Rameesh Kailasam, the government is currently deciding whether or not to form a new committee. The administration is looking for a medium ground rather than an outright ban on cryptocurrencies, as envisaged by the crypto bill that was scheduled to be introduced during Parliament's Budget Session earlier this year. The uncertainty surrounding cryptocurrencies in India is not going away anytime soon. The Monsoon Session of Parliament, which begins next week on 19 July does not include virtual currencies as a topic that might ‘tentatively' be discussed. The chance of the law being introduced in parliament during the forthcoming session is low, according to Rameesh Kailasam, CEO of IndiaTech. “The government appears to be still deciding how to proceed, which might be through an existing committee or a new one, with industry participation if needed."

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