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"Subject: The street view of the Indian Parliament in New Delhi, India.Location: New Delhi, India."

India’s Crypto Regulation bill will include ‘ban on private cryptocurrencies’

India’s crypto regulation is one of the 26 new bills that will be discussed at the lower house of parliament next Monday.

According to an official government document obtained by Newsbsc, members of the parliament will have a chance to vote against or in favour of a bill that will establish “a facilitative framework for creation of the official digital currency,” popularly referred to amongst crypto fanatics as CBDC. This CBDC will be issued and regulated by the country’s financial watchdog, the Reserve bank of India.

India's crypto regulation

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Another section of the proposed bill will seek to ban “all private cryptocurrencies” excluding assets that “promote the underlying technology of cryptocurrency and its uses.” 

India’s crypto regulation has been on the front burner for some weeks now. Newsbsc reported last week that the Indian government plans to ban crypto as a payment option.

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About Godwin

Godwin is a multi-faceted writer. He covers the latest and most significant news in the crypto industry for Newsbsc. Aside from his work here, he writes exceptional SEO optimized web contents for other websites in different sectors.

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