iNewz.in Hindi News

What Is Cryptocurrency Bill How Modi Government Ban Private Cryptocurrencies Rbi Bitcoin Ethereum Prices Crash In India – What Is Cryptocurrency Bill learn everything

News Desk, Amar Ujala, New Delhi

Published by: Kumar Sambhav
Updated Wed, 24 Nov 2021 09:47 AM IST

Summary

The Modi government has made preparations to ban all private cryptocurrencies. In view of this, the Cryptocurrency Bill will be introduced in the winter session of Parliament. Winter session is starting from 29th November.

The Modi government has decided to take strict measures to protect investors from the unregulated volatility of cryptocurrencies. Under this, the Government of India on Tuesday (November 23) announced the introduction of a cryptocurrency bill, under which all private cryptocurrencies will be banned in the country. As soon as this news came to the fore, the crypto market collapsed badly. At the same time, there has been a decline of 25 to 30 percent in all types of cryptocurrencies. Looking at this earthquake in the crypto market, let us understand what is the cryptocurrency bill and how will the central government control cryptocurrency with its help?

What is Cryptocurrency Bill?
According to the information, the Cryptocurrencies and Official Digital Currency Regulation Bill 2021 will be introduced by the Central Government in the winter session of Parliament for the regulation of cryptocurrencies. Through this bill, the government plans to create an easier framework for issuing an official cryptocurrency under the Reserve Bank of India. Preparations are also being made regarding its technology and use. Also, such a provision will be brought under this bill, which will ban all private cryptocurrencies. Significantly, 26 bills have been listed for introduction in the winter session. These include cryptocurrency bills.

Expansion

The Modi government has decided to take strict measures to protect investors from the unregulated volatility of cryptocurrencies. Under this, the Government of India on Tuesday (November 23) announced the introduction of a cryptocurrency bill, under which all private cryptocurrencies will be banned in the country. As soon as this news came to the fore, the crypto market collapsed badly. At the same time, there has been a decline of 25 to 30 percent in all types of cryptocurrencies. Looking at this earthquake in the crypto market, let us understand what is the cryptocurrency bill and how will the central government control cryptocurrency with its help?

What is Cryptocurrency Bill?

According to the information, the Cryptocurrencies and Official Digital Currency Regulation Bill 2021 will be introduced by the Central Government in the winter session of Parliament for the regulation of cryptocurrencies. Through this bill, the government plans to create an easier framework for issuing an official cryptocurrency under the Reserve Bank of India. Preparations are also being made regarding its technology and use. Also, such a provision will be brought under this bill, which will ban all private cryptocurrencies. Significantly, 26 bills have been listed for introduction in the winter session. These include cryptocurrency bills.

,

Leave a Reply