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The Indian parliament is discussing a possible ban on cryptocurrencies
The Indian parliament has begun discussing a law on digital currencies, which is expected to significantly reduce trade in cryptocurrencies.
Yazar: Tom Roberts
Yayınlanma: 7 Aralık 2021 03:11
Güncellenme: 16 Aralık 2024 22:55
The Indian parliament is discussing a possible ban on cryptocurrencies
The Indian parliament has begun discussing a law on digital currencies, which is expected to significantly reduce trade in bitcoin and other cryptocurrencies in the country. According to the country's central bank, bitcoins threaten India's financial and macroeconomic stability. Next year, it is going to launch its own "official" virtual currency. The Indian government announced last week about the inclusion of the Digital Currency Act on the agenda of the last parliamentary session this year. According to her journal, the new legislation aims to "ban all private cryptocurrencies in India", but also to "allow certain exceptions". The final form of the law may change a lot during the meeting, which will last until December 23. The government has not yet specified what will be considered private cryptocurrencies. However, the primary objective of the law under discussion is to create a framework for the operation of India's official digital currency, which the central bank is set to launch. According to Reuters, it could be launched in the second quarter of next year. "By curbing bitcoin and other cryptocurrencies, the Indian government could eliminate competition from its own digital currency," commented Motley Fool, a financial advisory firm, on Prime Minister Narendra Modi's cabinet. He also cites concerns about the introduction of new measures as cryptocurrencies being used for tax evasion or money laundering, or the country's efforts to exercise strong capital control over its market.İLGİLİ HABERLER
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