Crypto Ban In India: Things To Keep In Mind
The recent parliament session has passed a prospect of banning private cryptocurrencies in India. The inside committee members mentioned a lack of rules and regulations from an authorized organization. A leading member of the committee quoted that they are unable to manage and keep an eye on the cryptocurrency transaction.
The Parliament passed, The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 is slated for introduction, consideration, and passing. The law is intended to create a facilitative framework for an official digital currency issued by the RBI. And to “prohibit all private cryptocurrencies in India”. But, certain exceptions will be permitted “to promote the underlying technology".
Whereas crypto startups founder is trying their best to negotiate wit...