The Indian government is looking for parliament to debate a bill which would ban bitcoin and other cryptocurrencies inside the country and allow the reserve bank to create its own cryptocurrency.
According to documents on the Indian parliament’s website (PDF, page 26), the government is planning to introduce a law for debate in Lok Sabha that could see private cryptocurrencies like bitcoin be banned from use inside the country. The law also calls for the creation of a national digital currency issued by the Reserve Bank of India (RBI). The bill is titled ‘The Cryptocurrency and Regulation of Official Digital Currency Bill,2021’ and its purport reads: When the purport says there should be « certain exceptions to promote the underlying technology of » cryptocurrencies it means the blockchain, which does have other uses.
