Indian Parliament Will Not Consider Total Crypto Ban in Winter Session

Indian Parliament Will Not Consider Total Crypto Ban in Winter Session

“The Indian government will not be considering a cryptocurrency-related draft bill during the winter session of Parliament as was previously planned. The draft bill entitled ‘Banning of Cryptocurrency & Regulation of Official Digital Currencies’ is not included in the session agenda issued in India’s lower house of parliament, Lok Sabha, on Nov. 14.

In August 2019, the Indian government stated that the draft bill would be introduced in Parliament in the winter session, which takes place between Nov. 18 and Dec. 13.

As reported by Cointelegraph, the draft legislation purportedly intends to not only impose a complete ban on the use of crypto in India but also to introduce a“Digital Rupee” issued by the country’s central bank, the Reserve Bank of India.

However, the proposed bill does not apply to Bitcoin’s (BTC) underlying technology of blockchain as well as other related technologies associated with the development of the technology, including blockchain-based financial applications.”

https://cointelegraph.com/news/indian-parliament-will-not-consider-total-crypto-ban-in-winter-session

Master Asked on November 15, 2019 in Cryptocurrency.
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