Never miss a story

Get subscribed to our newsletter


×
Photo by Jon Tyson on Unsplash

The government's objective is "to create a facilitative framework for the creation of the official digital currency to be issued by the Reserve Bank of India"

The Union government will move a Bill which seeks to prohibit all private cryptocurrencies in India in the Winter Session of Parliament starting November 29. It will be called The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021. However, it allows for certain exceptions to promote the underlying technology of cryptocurrency and its usage.

The government's objective is "to create a facilitative framework for the creation of the official digital currency to be issued by the Reserve Bank of India". The Bill has been listed for introduction, consideration and passing in the Lok Sabha. It is among 26 new Bills, which are to be introduced in the Parliament session beginning November 29.

Prime Minister Narendra Modi had earlier said that all democratic countries need to work together on cryptocurrency and ensure that it does not end up in the wrong hands.Giving an example of the virtual currency, he had said, "Take cryptocurrency or Bitcoin for example. It is important that all nations work together on this and ensure it does not end up in the wrong hands, which can spoil our youth." Several high meetings have been held to discuss the regulation of cryptocurrencies. The Parliamentary Stnading Committee had also called for the regulation. (IANS/ MBI)


Keep Reading Show less

Popular

Investment is cool and it is set to see numerous spikes throughout the crypto world.

Growing up and learning in a classroom is a shared experience by pretty much everyone in the western world, and so, it should be no surprise that the topic of money, bills and general life questions are raised to teachers.

Children have been extremely invested in the world of cryptocurrency, especially meme coins as they often trickle through their newsfeeds via meme culture.

Keep Reading Show less

On a daily chart, Bitcoin can be seen moving within a channel pattern, frequently retesting the $58,000 support level.

Bitcoin's price has continued its decline, falling below $57,000 for the first time since October, as the digital currency continues its retreat from record highs. Meanwhile, HUH Token's pre-launch token allocation has almost sold out.

Bitcoin

Keep Reading Show less

HUH Tokens purpose is to transform this in favour of the social investor.

HUH Token is a new token seeking to compete with the likes of Bitcoin, Ethereum, Dogecoin and Shiba Inu; it can be challenging to understand the possibilities of a new cryptocurrency.

Comparing recent releases of other cryptos, on the other hand, might be educational and beneficial. According to Coingecko.com, the entire value of all circulating EverGrow Coin has topped $1 billion, following an approximately 18,000 per cent gain in the previous month or so. ECG's (EverGrowCoin) rate of growth has been among the most rapid of any coin. As a consequence of its tokenomic strategy, EverGrow, which began in September, has lately gained traction.

Keep reading... Show less