Cabinet note suggests India will regulate, rather than ban, crypto
cointelegraph.comAccording to reports from local media, the Indian government will not move for an outright ban on crypto and will instead regulate the sector.
On Nov. 23, Cointelegraph reported that the Indian government was considering a bill proposing the creation of an official digital currency while imposing a ban on all “private” cryptocurrencies.
The news sparked panic selling on local crypto exchange WazirX the following day, and the vague wording on the bill and lack of clarification from the government have since left many onlookers divided on the prospects for crypto in India.
But Indian news outlet NDTV reported on Dec. 2 that it had obtained details of a cabinet note circulating in the government regarding the proposed crypto bill.
NDTV reporter
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