Government to ban all cryptocurrencies in the country, including Bitcoin, bill to be introduced in budget session

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New Delhi, Saturday 30 January 2021

Cryptocurrency The government is preparing to introduce a bill to legalize and ban the trading of other cryptocurrencies, including Bitcoin, and is also introducing a digital currency of the rupee under the new bill.

The digital version of the rupee is mentioned in an RBI booklet on January 25. The RBI is trying to find out what the benefits of the digital edition of the rupee are and how useful it is.

The RBI's booklet is working to promote the central digital currency, even if it is not a private currency, stating that the popularity of the private currency has increased in recent days, although the government and regulators are skeptical about the benefits of launching it. Also under consideration.

There are no clear guidelines on cryptocurrency in India. In 2018, the government issued a circular banning the transactions associated with it, after which the Supreme Court, after hearing the entire chapter, approved the circular.

The ban on cryptocurrency was also demanded in the year 2019, although the government did not introduce any bill in Parliament at that time, the Cryptocurrency and Regulation of Official Digital Currency Bill 2021 will allow promotion of digital currency with some exceptions.

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