Indian Govt Submits Invoice That Would Ban Most Cryptocurrencies, Dashing Hopes for Friendlier Measure

 Indian Govt Submits Invoice That Would Ban Most Cryptocurrencies, Dashing Hopes for Friendlier Measure


The Indian authorities nonetheless seeks to ban most cryptocurrencies below a long-awaited cryptocurrencies invoice submitted for consideration at Parliament’s so-called Winter Session.

Whereas the measure seems to be basically the identical because the draft invoice submitted in January, expectations had grown in current months that the federal government had softened its view on crypto and would maybe search to have it regulated as a commodity.

The invoice, which might create a framework for a central financial institution digital forex (CBDC) by the Reserve Financial institution of India (RBI), seeks to ban all personal cryptocurrencies aside from “sure exceptions to advertise the underlying know-how of cryptocurrencies and its makes use of.”

This can be a creating story and will likely be up to date.

Kevin Reynolds is CoinDesk’s international information editor. He owns bitcoin, ether, polygon and solana.



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