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Which act was introduced in India in 2021 to regulate the cryptocurrency market?

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Question: Which act was introduced in India in 2021 to regulate the cryptocurrency market?

Options:

  1. Cryptocurrency Regulation Bill
  2. Digital Currency Act
  3. Finance Bill
  4. Blockchain Act

Correct Answer: Cryptocurrency Regulation Bill

Solution: 

The Cryptocurrency Regulation Bill was introduced in India in 2021 to regulate the cryptocurrency market.

Which act was introduced in India in 2021 to regulate the cryptocurrency market?

Practice Questions

Q1
Which act was introduced in India in 2021 to regulate the cryptocurrency market?
  1. Cryptocurrency Regulation Bill
  2. Digital Currency Act
  3. Finance Bill
  4. Blockchain Act

Questions & Step-by-Step Solutions

Which act was introduced in India in 2021 to regulate the cryptocurrency market?
  • Step 1: Understand that the question is asking about a specific law related to cryptocurrency in India.
  • Step 2: Recall that in 2021, a law was proposed to manage and regulate cryptocurrencies.
  • Step 3: Identify the name of the law, which is the Cryptocurrency Regulation Bill.
  • Step 4: Conclude that the Cryptocurrency Regulation Bill was introduced in India in 2021 to regulate the cryptocurrency market.
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