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India could ban private crypto and launch CBDC
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However, it goes on to say that it would allow for "certain exceptions to promote the underlying technology of cryptocurrency and its uses".Meanwhile, the bill will also "create a facilitative framework for creation of the official digital currency to be issued by the Reserve Bank of India".Indian prime minister Narendra Modi recently said that cryptocurrencies could “spoil our youth” while the country's central bank has long been sceptical of the likes of bitcoin.In 2018 the RBI banned
. Read more on finextra.comAbout this in other media
India to set maximum penalty for violating crypto norms at fine of $2.7 million or 1.5 years in jail cointelegraph.com /2 years ago
Indian Crypto Bill To Regulate, Not Ban 'Private Cryptocurrencies' - Report cryptonews.com /2 years ago
New Crypto Bill: Private Cryptocurrency To Be Regulated, Not Banned; Crypto Not Legal Currency In India: 5 Points ndtv.com /2 years ago
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