Centre to present bill in Parliament to ban Cryptocurrency, Know everything here!

In the winter session of Parliament starting from November 26, the central government will introduce 26 new bills, including three ordinances.

Yogita
Published on 24 Nov 2021 5:00 AM GMT
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New Delhi: If you are also interested in investing in Cryptocurrency or have invested money in it, then this news is for you. Actually, the Government of India is soon going to completely ban Crypto Currency. In the winter session of Parliament starting from November 26, the central government will introduce 26 new bills, including three ordinances. This information has been received from the Legislative Agenda released for the winter session on Tuesday evening.

Ban on Cryptocurrency:

In this, the bill on which people's eyes are fixed the most is the Cryptocurrency Bill. Will the Modi government ban cryptocurrencies, or allow trading in it with some restrictions? All this will be known only after the bill comes. The name of the bill related to cryptocurrency is 'The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021'.


Nikhil Kamath, co-founder of Zerodha said in a tweet on Twitter, "What will happen to cryptocurrencies if the government decides to ban it?

It is believed that this bill can create new trouble for those investing in other cryptos including bitcoin. He added that if the government decides to ban crypto, then transactions between the bank and your crypto exchanges will stop. You will not be able to convert your local currency to buy any crypto. Along with this, you will not be able to redeem them either.

More than 7k Crypto coins are in market:

At present, there are more than 7 thousand different Crypto Coins in circulation all over the world. These are a type of digital coin, whereas till the year 2013 there was only one cryptocurrency in the world BitCoin. It was launched in the year 2009. Bitcoin is still the most popular in the whole world including India.

Digital currency by RBI:

Digital currency to be issued by RBI can also be discussed in the bill. A few days before the committee meeting, PM Modi also discussed the issue of cryptocurrencies with senior officials of various ministries and Reserve Bank.

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Yogita

Yogita

She covers current News topics, keeps the audience updated with Buzz around the world.

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