Government doesn t plan on introducing India s own cryptocurrency
Government doesn t plan on introducing India s own cryptocurrency
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There was a pre-budget rumour that the Indian Government is apparently planning to ban private cryptocurrencies, like Bitcoin, in India. The news was expected along with the 2021 budget that was announced yesterday, but the cryptocurrency ecosystem in India was happy as it was ignored during the budget speech with the rumour getting scrapped.
According to the Lok Sabha (lower house of parliament) bulletin last week, the Modi government is planning to introduce a bill prohibiting all private cryptocurrencies in India and creating an official digital currency issued by the Reserve Bank of India (RBI).
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| UPDATED: 15:28, Tue, Dec 15, 2020
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