India to introduce bill to ban private cryptocurrencies, says Parliament
Framework for central bank-backed digital currency will be introduced
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New Delhi: The Indian government will introduce a bill to ban private cryptocurrencies and create a framework for a central bank-backed digital currency when lawmakers return next week, the parliament announced on Tuesday.
The proposed bill “seeks to prohibit all private cryptocurrencies in India. However, it allows for certain exceptions to promote the underlying technology of cryptocurrency and its uses”, according to parliament’s bulletin of upcoming business.