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"Defining Moment For Cryto Startup Community In India": Analysts Remain Optimistic On India's Crypto Bill
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ndtv.comThe government aims to regulate cryptocurrency in India
A recent Cabinet note by the government on the proposed cryptocurrency bill - to be presented in the Parliament's winter session - suggested regulation of private cryptocurrency rather than banning it. The note also says that crypto will not be recognised as a legal currency in India. The legislation describes Cryptocurrency as Cryptoasset, according to the note.
The Crypto Asset Bill proposes to prohibit the usage of crypto asset as currency substitutes or as payment systems for remittances. The bill also proposes to establish a facilitative framework for the distributed ledger technology and also lay the groundwork for the creation of the official digital currency to be issued by the
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