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Finance Minister Nirmala Sitharaman says no steps have been taken to ban cryptocurrency advertisements yet

The winter session of the Parliament began on November 29, and on the second day of the winter session, Nirmala Sitharaman answered a few questions regarding cryptocurrencies in India.

During the question hour in the Rajya Sabha, Nirmala Sitharaman said that keeping the propriety of the House, any answer now will preempt the discussion which will come with Bill. That discussion would be held.

She was asked that no conclusive action has been taken to stop the advertisements of cryptocurrencies in India. To which, Nirmala Sitharaman said that no steps have been taken yet to curb advertisements about cryptocurrency, but investors have been cautioned. More will come with the Bill.

Sitharaman was questioned that will the centre bring a separate framework on the NFTs (non-fungible token)? To which, she said that she won’t be able to say if there will be a framework. But all these matters are being discussed.

She further said that cryptocurrency is a risky area and is not in a complete regulatory framework.

Read Also: Will India ban international flights again amid fear of Omicron? CM Arvind Kejriwal requests PM Modi to stop it immediately

Sitharaman was also asked about the taxes collected on crypto trades. To which, she said that they don’t have ready information about the amount of tax collected on cryptocurrencies.

Meanwhile, she was also asked whether Bitcoin will be recognised as a currency. She replied and said that no, it won’t.

Finance Minister Sitharaman also made a remark in which she said the risk of cryptocurrency and it going in the wrong hands is being monitored.

In other news, the model who garnered attention because of the photoshoot at Kartarpur has now apologised for the photoshoot. After social media went berserk over her pictures at the premises of Gurdwara Darbar Sahib in Kartarpur, the Pakistani model Suleha deleted her pictures and apologised on her Instagram.

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