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Govt bill to ban private cryptocurrencies, create digital currency

Jan 30, 2021 16:38 IST

The Indian government has listed a bill that would prohibit all private cryptocurrencies in the country. The bill also provides a framework for the creation of an official digital currency, that will be issued by the Reserve Bank of India. It's worth noting that in April 2018, the RBI effectively banned cryptocurrency transactions via banks and e-wallets, but the ban was later quashed by the Supreme Court in March 2020.

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