BREAKING : GOVERNMENT REPLY ON CRYPTOCURRENCY BAN IN INDIA

BREAKING : GOVERNMENT REPLY ON CRYPTOCURRENCY BAN IN INDIA
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BREAKING : GOVERNMENT REPLY ON CRYPTOCURRENCY BAN IN INDIA
Earlier this week, the government listed a bill titled “The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021” that is aimed to provide a framework for creation of an official digital currency to be issued by the RBI and prohibit all existing “private” cryptocurrencies. Experts, however, believe that it would take some time for the country to bring any changes.
The government will explore the use of blockchain technology for digital economy, Minister of State for Finance Anurag Singh Thakur said in response to a question raised in Rajya Sabha on Tuesday. The comments from the Ministry of Finance come just days after the Reserve Bank of India (RBI) mentioned plans to bring a digital version of the Indian Rupee. The central bank stated that it was exploring the possibility as to whether there was a need for a digital version of fiat currency, and in case there was then how to operationalise it.
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