India misinterpreted private crypto ban, says crypto bill creator

India misinterpreted private crypto ban, says crypto bill creator

India's former finance minister Subhash Garg clarified that "it is misleading to say that private cryptocurrencies will be banned." The creator of India’s crypto bill, former Finance Minister Subhash Garg, dismissed the notion of banning “private cryptocurrencies” as a misinterpretation while highlighting the enormous potential of cryptocurrencies and blockchain technology.The Parliamentary discussions around a controversial crypto bill sparked fears around the ban on cryptocurrencies, with no clear indication about the ban's scope. As Cointelegraph reported, an episode of panic selling....


Related News

Report Says India Will Regulate “Private Crypto,” Not Ban

A report suggests that India’s new crypto bill will aim to regulate “private cryptocurrencies,” rather than banning them. India’s Crypto Bill Will Regulate All Private Cryptocurrencies Earlier, there were reports that the nation may be planning to ban all “private cryptocurrencies,” and allow only certain exceptions like the country’s own Central Bank Digital Currency (CBDC) […]

Experts divided on how far India's 'private crypto' ban will go

Previous documents from the Indian government indicate that it believes any cryptocurrencies not issued by the government are considered private, and therefore could be banned. Government documents from 2019 have been cited by an Indian crypto expert to suggest that the proposed ban on all “private cryptocurrencies” could include just about every crypto. The Indian government this week announced it would introduce the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 when it convenes at the Winter Session on Nov. 29. The bill seeks a legislative vote on creating an....

India Lists Cryptocurrency Bill to Be Taken up Parliament — Crypto Legislatio...

The government of India has listed a cryptocurrency bill to be taken up in the upcoming session of parliament that starts next week. The bill seeks to prohibit cryptocurrencies with some exceptions. It will also create a facilitative framework for a digital rupee to be issued by the Reserve Bank of India (RBI). Indian Government Pushes for Crypto Legislation Before Year-End The Indian government has listed a cryptocurrency bill to be taken up in the winter session of Lok Sabha, the lower house of India’s parliament, according to the legislative agenda for the upcoming....

Crypto Is Here To Stay, Says Paytm Founder Amid Regulatory Debate In India

The government of India is set to propose a new crypto bill in Parliament. This bill contains some regulations that are unfavorable to India’s cryptocurrency economy. In the midst of this, Vijay Shekhar Sharma, the founder of Paytm, has a lot to say. Paytm is an Indian multinational technology company that specializes in digital payment […]

India Plans to ‘Fast Track’ New Cryptocurrency Bill, Seeks to Take ‘Middle Pa...

The Indian government is reportedly trying to “fast track” a modified cryptocurrency bill to be introduced in the winter session of parliament. India’s crypto legislation is expected to take a “middle path” approach to balance all stakeholders’ concerns. India Reportedly Modifying Crypto Bill to Introduce at the Start of Winter Session of Parliament India is currently working on cryptocurrency regulation. The government is now considering taking a “middle path” that balances all stakeholders’ concerns to regulate....