government will move a bill to frame rules for cryptocurrencies aimed at prohibiting private coin while providing a framework for the creation of an official digital currency to be issued by the Reserve Bank of India (RBI). The bill is listed among 26 items of legislation for consideration in the winter session of parliament, according to a bulletin issued by the Lok Sabha on Tuesday.
The crypto industry is hopeful there won’t be a complete ban on cryptocurrencies. “The bill also seeks to prohibit all private cryptocurrencies in India.
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