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India could ban private crypto and launch CBDC
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finextra.comHowever, it goes on to say that it would allow for "certain exceptions to promote the underlying technology of cryptocurrency and its uses".Meanwhile, the bill will also "create a facilitative framework for creation of the official digital currency to be issued by the Reserve Bank of India".Indian prime minister Narendra Modi recently said that cryptocurrencies could “spoil our youth” while the country's central bank has long been sceptical of the likes of bitcoin.In 2018 the RBI banned financial institutions facilitating services related to cryptocurrencies.
The move was overturned by the supreme court last year.
. Read more on finextra.comAbout this in other media
India to set maximum penalty for violating crypto norms at fine of $2.7 million or 1.5 years in jail cointelegraph.com /3 years ago
India: Crypto, Web 3.0 and blockchain can help push India’s economy by $1.1 trillion ambcrypto.com /3 years ago
India misinterpreted private crypto ban, says crypto bill creator cointelegraph.com /3 years ago
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