Market Cap
24h Vol
6959
Cryptocurrencies
51163
Markets
2021-11-25

Crypto regulations in India - who will they include?

Government documents from 2019 were quoted by an Indian cryptocurrency expert to suggest that the proposed ban on all "private cryptocurrencies" could include almost any cryptocurrency. 

 

The Indian government announced this week that it will introduce the Cryptocurrencies and Official Digital Currency Regulations Bill 2021 when it meets in the winter session on November 29.

 

The bill seeks a legislative vote on the creation of an official digital currency, while imposing a ban on "all private cryptocurrencies." However, there seems to be a lot of confusion about what exactly constitutes a "private cryptocurrency," with some users speculating that it could refer to "private" coins such as Monero or Zcash.