November 24, 2021, 11:20 AM


The Central government would introduce a bill to impose a ban on all the private players involved in cryptocurrency in India, said reports.
This bill would be introduced in the upcoming winter session of the Parliament, which would commence on November 29.
The Cryptocurrency and Regulation of Official Digital Currency Bill of 2021, is currently listed for introduction in the Lok Sabha.
Reportedly, the Centre would also prepare a framework as per the guidelines of the Reserve Bank of India to regulate digital currencies.
The aftermath of this news resulted in the fall of almost every cryptocurrency. Bitcoin went down by around 18.53%, Ethereum fell by 15.58%, and Tether down by 18.29%.
Last week, the Standing Committee on Finance, chaired by BJP member Jayant Sinha, had met the representatives of crypto exchanges, blockchain and Crypto Assets Council (BACC), among others, and arrived at a conclusion that cryptocurrencies should not be banned, but it should be regulated.

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