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Cryptocurrency Bill: Government has no plans to boost cryptos in India
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cnbctv18.comThe government has no plans to boost the cryptocurrency sector in India, the Finance Ministry told the Parliament in a reply to a query in Lok Sabha on Monday. It added since cryptocurrencies are unregulated in the country, the government does not collect data on the sector.A Bill on Cryptocurrency and Regulation of Official Digital Currency is expected to be taken up during the seventh session of the seventeenth Lok Sabha, it said.
In the bill, the government plans to ban all private cryptocurrencies, "with certain exceptions." It is also seeking to build a framework for the adoption of a central bank digital currency (CBDC). A CBDC is introduced by central banks, as opposed to private players, Fin Min said.The government had received a
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