The central government will introduce the bill in the budget session, in preparation for the ban on cryptocurrencies like bitcoin
At the moment, Bitcoin is in the form of digital currency ie cryptocurrency. At the same time, the Indian government is going to ban bitcoin and other cryptocurrencies. For this, the Central Government will bring a bill in Parliament in this budget session. After the passage of this bill, cryptocurrency will be banned. It is being told that a bill related to this has been listed on the floor of the Parliament. This bill will be passed in this budget session. After this, bitcoin will be banned. It is being told that the bill related to this was prepared two years ago. Apart from this, it is being told that the government is also considering bringing digital currency of rupees.
Government will bring its own cryptocurrency
Please tell that the budget session has started from Friday. The government has listed a bill for this budget session to ban all cryptocurrencies in India such as Bitcoin, Ether, Ripple and others. At the same time, the government is also considering bringing its own cryptocurrency. The bill that the government has listed in the House, also has a provision to create a legislative framework on the official digital currency. Along with this, the RBI also mentioned the digital version of the rupee in a booklet on 25 January.
RBI is exploring possibilities
The RBI is trying to find out about the benefits and utility of digital in rupees. Its booklet states that in recent years private digital currencies such as bitcoin have gained considerable popularity. Also, the booklet states that regulators and governments in India have raised doubts about these currencies and are apprehensive about the risks posed by it. Nevertheless, the RBI is exploring their potential. Also, in the booklet, it has been said that if a digital version of the currency is needed in the country, then how to make it operational.
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There was a demand for a ban on cryptocurrency in 2019 too
Let us know that in the year 2019, there was a demand for a ban on cryptocurrencies like bitcoin. This demand was reportedly made in a government bill. It called for a ban on cryptocurrencies. However, this bill was not introduced in Parliament. Now the bill related to this has been listed in the budget session. Let us know that in the last one year, the number of cryptocurrency investors and trading volume in India has seen a big jump.