INSUBCONTINENT EXCLUSIVE:
The new crytocurrency bill is listed for debate in budget sessionDigital Currency in India: The government is planning to introduce a law to
ban all private cryptocurrencies such as bitcoin and put in place a framework for an official digital currency to be issued by the central
banning all private cryptocurrencies, with a jail term of up to 10 years and heavy fines for anyone dealing in digital currencies
The panel has, however, asked the government to consider the launch of an official government-backed digital currency in the country, to
function like banknotes, through the Reserve Bank of India
In 2018, the central bank ordered financial institutions to break off all ties with individuals or businesses dealing in virtual currency
such as bitcoin within three months.However, in March 2020, the Supreme Court allowed banks to handle cryptocurrency transactions from
but no major economy has taken the step of placing a blanket ban on owning them
of consumer data through cryptocurrency and its possible impact on the financial system.'The Cryptocurrency and Regulation of Official
Digital Currency Bill 2021': Here's what crypto experts have to say on the new cryptocurrency bill proposed to be introduced by the
We are talking to other stakeholders and will definitely initiate deeper dialogue with the government and showcase how we can actually
alternative to government-issued legal tender
Crypto assets and digital government currency can coexist and together, they can bring tremendous benefits to the Indian economy.''''We hope
the Lok Sabha members and advisors will consult crypto and blockchain companies as they make their decisions
Millions of Indians have already invested in this new asset class
Millions more want the same opportunity to build wealth that investors in other countries already have
