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India ‘not looking to ban cryptocurrency’ say ministers
INDIA’S government says it will not be looking to ban cryptocurrencies, but rather provide education, clarification and regulation.
Discussing an extensive report from the nation’s cryptocurrency bill, ministers today agreed that India was well-placed to capitalise on opportunities presented by digital assets.
A complete ban on cryptocurrencies had been mooted in the lead-up to the bill coming before ministers, but many have said they wish to explore regulatory mandates after agreeing a ban ‘would be imprudent’.
Once formally agreed by the Union Cabinet, the Cryptocurrency and Regulation of Official Digital Currency Bill 2021 will be presented to parliament for approval.