Cryptocurrency Regulation Bill is Coming!

Government is bringing in the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 in the winter session of Parliament.

Can anyone explain more about this ? what it means??


This was the post that was released by the govt.

Couple of things which we can infer from this :

  1. RBI is coming up with its own official digital currency.

  2. Bill recognises the importance of block chain and crypto based technology.

  3. Private coins maybe banned.

Now what are private coins is bit unclear. But this is what we can gather currently about it :

This twitter thread is bit helpful in summarising today’s update :

One more nice thread :

Latest Update on Crypto…There is no ban …only a regulation mechanism will be in place

The above planned bill did not come-up for discussion
during the recent parliament session in December 2021, right?
So we need to wait and watch0out for the next parliament session i suppose.