NEW DELHI: Former Finance Secretary Subhash Chandra Garg reportedly said on Thursday that he had no faith in the government's ability to figure out the complexities of the new crypto phenomenon after the government failed to table the much-anticipated Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, in the Winter Session of Parliament.
‘When the government announced its intention to introduce the crypto-assets/currencies law in the Winter Session of Parliament, I expressed severe reservations. As a result, I am not shocked to see the current situation, in which there is no clear understanding of what the Bill is about "said Garg.
The Crypto Bill 2021 was listed on the Parliament's agenda for the second time but never saw the light of day. It was also postponed during Parliament's Budget Session in February of this year.
Garg led the inter-ministerial committee (IMC) that wrote the cryptocurrency bill named "Banning of Cryptocurrency and Regulation of Official Digital Currency Bill, 2019," which was a pioneer in creating policies around crypto.
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