Sushil Modi, BJP leader and Member Parliamentary Standing Committee raised questions to the Finance Minister during the question hour on the cryptocurrency Bill.

The government will be coming up with a new Bill on cryptocurrency and the same will be introduced in the House once the Cabinet clears it, said Finance Minister Nirmala Sitharaman in Rajya Sabha today.

“The biggest concern of the entire House was that a flurry of misleading advertisements are being published in newspapers, print media, in the electronic and in the digital media. Many of these advertisements were sponsored by big stars of the country and young people are being allured by the assurance that has been given by these crypto exchanges,” he said.

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“Our concern was that it will take time for the Bill to come. In the meantime, is the government planning to ban (the ads)? So, the FM has not outright rejected banning these advertisements but has said that the Advertisement (Standards) Council of India will take care of these misleading advertisements,” he said.

Cautioning the people, the FM further said those investing in cryptos should be careful.

“Cyber criminals are hacking these cryptocurrency sites and the FM has told the House that the ED is investigating eight such cases,” he said.

For more, watch the accompanying video.

(Edited by : Thomas Abraham)