Parliament to consider bills to ban private cryptocurrencies, set up DFI

The Bill will prohibit all private cryptocurrencies in India, but will allow for certain exceptions to promote the underlying technology of cryptocurrency, and its uses

The Budget session of the Parliament will consider introduction of two keys bills that seek to ban private cryptocurrencies and set up a development finance institution for infrastructure financing.
 

The government will introduce the 'Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 that seeks to create a "facilitative framework" for creation of an official digital currency that will be issued by the Reserve Bank of India. The Bill will prohibit all private cryptocurrencies in India, but will allow for certain exceptions to promote the underlying technology of crytptocurrency, and its uses.
 

The government will also introduce The National Bank