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India On Track To Ban All Private Cryptocurrencies: Market Crash Imminent?

Published by Nalin Rawat on FossBytes

The Indian government has listed the Cryptocurrency and Regulation of the Official Digital Currency Bill for the winter session of Parliament. The bill plans to bar all ‘private cryptocurrencies‘ except a few. It also includes creating a framework to regulate digital currencies issued by the Reserve Bank of India (RBI).

The Bill

Cryptocurrency and Regulation of the Official Digital Currency Bill 2021 “seeks to prohibit all private cryptocurrencies in India. However, it allows for certain exceptions to promote the underlying technology and its uses”.

Read More: FossBytes


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