The Indian Parliament, in the current Budget session, will consider a bill that prohibits all private cryptocurrencies. The bill is expected to create an official digital currency to be issued by the Reserve Bank of India, according to a bulletin of the Lok Sabha for the Budget session.
In a tweet, Nischal Shetty, Founder of WazirX, said, “Let’s not be afraid. We’ve been preparing for this. We’ve been pushing for regulations. I believe this bill will be referred to a standing committee for further deliberations… .” He also tweeted that there’s a possibility of a new cryptocurrency bill being introduced in the Parliament that will help the RBI to create its own central bank digital currency (CBDC), and ban private cryptocurrency with some exceptions.
Read more at https://yourstory.com/2021/01/government-ban-cryptocurrency-framework-budget-elon-musk-bitcoin
Disclaimer: Cryptocurrency is not a legal tender and is currently unregulated. Kindly ensure that you undertake sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. The information provided in this section doesn't represent any investment advice or WazirX's official position. WazirX reserves the right in its sole discretion to amend or change this blog post at any time and for any reasons without prior notice.
