Hey there, Finally, the Central Government is Likely To Ban Cryptocurrency In India.
According to the sources, the central government is likely to ban all the private cryptocurrencies existing in the Indian market within a short period.
It is believed that the drafted bill named Cryptocurrencies and Regulation of Official Digital Currency Bill, 2021 is likely to be introduced in the parliament by the government in the upcoming winter session of the parliament.
Cryptocurrency Ban In India
The bill for sure will ban cryptocurrency in India.
The cryptocurrency ban in India is believed to be due to the decentralised use of the currency by people without any regulating authority, which might have the potential to be misused.
Although we want to ensure you that government will bring a digital currency just like the cryptocurrency of its own, which the Reserve Bank Of India would regulate.
However, it is not for sure until now whether the government would ban all the cryptocurrencies running in India or allow some currencies apart from RBI crypto to be functional in India.
Now let us wait for the final news of the bill in the winter session of the parliament.
Some Famous cryptocurrency working in India are-
- Bitcoin / BTC
- Tether / USDT
- Shiba Inu / SHIB
- Ethereum / ETH
- WazirX / WRX
- Tron / TRX
- Dogecoin / DOGE
- Cardano / ADA
- Polygon / MATIC
To know more about What is cryptocurrency then what this exciting video to learn more in detail about the topic-
What is cryptocurrency?
It could be considered as a significant move by our Central Government to regulate this sudden introduction of this new concept of currency in the world that is cryptocurrency.
However, it is also a good opportunity for those interested in investing in cryptocurrency as after this bill; they can invest in the government introduced cryptocurrency.
So let us wait for the final bill to be introduced in the parliament.
We will keep you updated with further news related to this topic.
Until then, stay connected, and if you have any comments related to the topic of the cryptocurrency ban in India, comment your views down in the comment section.
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