Govt to ban cryptocurrencies, make way for India’s own digital currency.
A Lok Sabha bulletin released on Tuesday said The Cryptocurrency & Regulation of Official Digital Currency Bill, 2021, will “allow for certain exceptions to promote the underlying technology of cryptocurrency and its uses.”
A bill to prohibit all private cryptocurrencies in India is on the agenda of the government for the winter session of parliament along with creating a facilitative framework for the creation of official digital currency to be issued by RBI (Reuters).
The government is set to introduce a bill to ban private cryptocurrencies and create a framework for an official digital currency to be issued by the Reserve Bank of India (RBI) during Parliament’s Winter Session starting November 29.
A Lok Sabha bulletin released on Tuesday said The Cryptocurrency & Regulation of Official Digital Currency Bill, 2021, will “allow for certain exceptions to promote the underlying technology of cryptocurrency and its uses.”RBI said in July it was working towards its own digital currency and the Central Bank Digital Currency (CBDC).
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