Indian Parliament Introduces Bill To Ban Private Cryptocurrencies

The Indian Parliament has introduced a new bill that would potentially regulate cryptocurrencies in India, with private cryptocurrencies on its sights. The bill, however, also details how certain exceptions can be made in order to promote the underlying blockchain technologies that cryptocurrencies operate with.The bill, titled “The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021” has been filed for review for the Parliament’s upcoming winter session, and joins 26 other bills for consideration and passing, which begins on November 29.The bill involves a set of regulatory frameworks for the creation of an official digital currency issued by the Reserve Bank of India (RBI).