What are private cryptocurrencies? How do they differ from Bitcoin, ether?
livemint.comThe Indian government is preparing a bill to regulate cryptocurrencies, which will be presented to parliament in the Winter session starting November 29. The ‘Cryptocurrency and Regulation of Official Digital Currency Bill, 2021’ seeks to prohibit all private cryptocurrencies in India.
However, the government will allow only certain cryptocurrencies to promote the underlying technology and its uses, according to a legislative agenda for the winter session that is set to start later this month.
Even as the definition of private cryptocurrencies has not been defined by the government, Bitcoin, Ethereum and many other crypto tokens are based on public blockchain networks, as the transactions made by the networks are said to be traceable while
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