The Union government will move a Bill which seeks to prohibit all private cryptocurrencies in India in the Winter Session of Parliament starting November 29.It will be called The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021. However, it allows for certain exceptions to promote the underlying technology of cryptocurrency and its usage.The government’s objective is “to create a facilitative framework for the creation of the official digital currency to be issued by the Reserve Bank of India”.
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