Govt Lists Bill In Lok Sabha To Ban Private Cryptocurrencies

The Centre on January 30 listed a bill in the Lok Sabha, provisioning to ban all private cryptocurrencies in India. Besides, the bill also points to create a legislative framework for official digital currency of India. However, the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 exempts certain thing to promote the technology and very idea of cryptocurrency. Earlier, the Supreme Court had overruled the RBI’s 2018 ban on cryptocurrencies.