Updated Jan 30, 2021 | 07:00 IST
The government seeks to ban all private cryptocurrencies in India such as bitcoin, Ripple and Ether and seeks to create a national digital currency. It also seeks to create a development finance institution Govt lists bill to ban all cryptocurrencies, create official digital currency of India | Photo Credit: Thinkstock
New Delhi: The government has listed a bill to ban private cryptocurrencies in India such as Bitcoin, Ether, Ripple among others. The Budget session of the 17th Lok Sabha will also consider the introduction of another bill to set up a development finance institution.
The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, seeks to create a “facilitative framework” for an official digital currency that will be issued by the Reserve Bank of India (RBI). It also seeks to ban all private cryptocurrencies such as Bitcoin, Ether, and Ripple but will exempt certain uses and t
Centre likely to introduce bill to ban private cryptocurrencies, create official digital currency - It is to be noted that the government is considering the introduction of a bill to set up a development finance institution (DFI) in India as well.