The government has listed the Cryptocurrency and Regulation of Official Digital Currency Bill 2021 for introduction during the winter session of the parliament, which will start on November 29. On the Lok Sabha agenda, the purpose of the bill remains unchanged from when it was earlier listed in February this year: We are discussing crypto regulation trends with our subscribers this week. Subscribe to MediaNama to attend this session. To create a facilitative framework for creation of the official digital currency to be issued by the Reserve Bank of India. The Bill also seeks to prohibit all private cryptocurrencies in India, however, it allows for certain exceptions to promote the underlying technology of cryptocurrency and its uses. (emphasis ours) The unchanged description has caused many crypto investors in India to panic, and prices of all major cryptocurrencies have plummeted after…
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