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India to ban private cryptocurrencies and launch official digital currency
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theguardian.comThe Indian government is preparing to ban private cryptocurrencies and allow the country’s central bank to launch an official digital currency.
The proposed legislation follows a crackdown on cryptocurrencies in China, where financial regulators and the central bank have made all digital currency transactions illegal.
The Indian proposals were flagged in a parliamentary bulletin listing upcoming legislation which included one paragraph on “The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021”.
The accompanying description of the bill appeared to leave some room for using cryptocurrencies, however. “To create a facilitative framework for creation of the official digital currency to be issued by the Reserve Bank of India,”
Read more on theguardian.comAbout this in other media
New Crypto Bill: Private Cryptocurrency To Be Regulated, Not Banned; Crypto Not Legal Currency In India: 5 Points ndtv.com /2 years ago
All Private Cryptocurrency Will Be Regulated, Not Banned: Sources ndtv.com /2 years ago
China’s Digital Currency Challenge: Winning Hearts and Minds wsj.com /2 years ago
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