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Cryptocurrency Bill: Govt working on definition, tax treatment; cabinet nod to be sought soon
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The Finance Ministry is racing against time to introduce the planned bill on cryptocurrency in the upcoming Winter Session of Parliament. This urgency comes in the light of what many in the government see as unchecked growth of an unregulated sector and can be gauged from the multiple meetings being held, including once chaired by Prime Minister Narendra Modi.
The Winter Session is likely to be held from November 29 to around December 13, and one of the sticking points that needs to be sorted out before that is the tax treatment of the sector, Moneycontrol has learnt from informed sources. These issues are expected to be dealt with soon and that cabinet approval could be sought this month itself, the sources added.
“We are working on the tax
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