Questions tagged [digital currency bill 2021]

Carlo Fri Jul 12 2024 | 6 answers 1278

Could you elaborate on the concept of cryptocurrency and the key points of the proposed Digital Currency Bill 2021 in terms of regulation? Cryptocurrency, as I understand, is a digital asset designed to function as a medium of exchange using cryptography to secure its transactions and control the creation of new units. But how does the proposed Bill intend to regulate this emerging field? Will it aim to recognize cryptocurrencies as legal tender? Will there be measures to protect investors and consumers? And how will it tackle issues like taxation, cross-border transactions, and the use of cryptocurrencies for illicit activities? I'm keen to know the details of this significant legislation.