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Explained: What are private cryptocurrencies? How they are different from public ones
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cnbctv18.comThe Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 seeks to ban all private cryptocurrencies in India and make way for an official digital currency to be issued by the Reserve Bank of India (RBI). The Bill will be introduced in the Lok Sabha in the Winter Session, which is scheduled to begin from November 29.It will, however, “allow for certain exceptions to promote the underlying technology of cryptocurrency and its uses...
It also seeks to create a facilitative framework for the creation of the official digital currency to be issued by the Reserve Bank of India," said the Lok Sabha bulletin.The government hasn't clarified the definition of private cryptocurrencies yet. Currently, the popular opinion is Bitcoin,
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