The government is to introduce a bill to ban, with exceptions, the trading in cryptocurrencies in India and also put in place the framework for an official digital currency to be issued by the Reserve Bank of India. The Regulation of Official Digital Currency Bill, 2021 is likely to be introduced in the Budget Session of the Parliament, a Lok Sabha bulletin has said.
The SC ruling that overturned the RBI ban allowed crypto exchanges to restart operations in the country and dip into the booming crypto trading business in the world. Players like WazirX, Unocoin and Zebpay have recorded a massive jump in trading volumes.
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.
