India plans to introduce, evaluate, and enforce a bill to prohibit “all private cryptocurrencies” in the country, according to a legislative agenda for the winter session.
The Indian government said Tuesday evening that it will allow “certain exceptions” to promote the underlying technology of cryptocurrency and its uses.
The bill — called Cryptocurrency & Regulation of Official Digital Currency Bill 2021 — will also create a “facilitative framework” for creation of the official digital currency that the central bank will issue.
Lawmakers in India have been discussing cryptocurrency trading, and government-backed digital currency for over two years. But the country is yet to have a legislation to oversee the space.
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