Digital currency in India becomes a controversy. As many News reports are talking about the blocking Of Cryptocurrency In India. However, the Indian government has been enlisting a cryptocurrency bill. Which will be considered in parliament at an upcoming meeting. However, this conference will start next week.
Future Of Digital Currency in India:
Currently, many investors, analysts, and crypto customers are talking a lot about what will happen with digital currency in India. And the majority are saying that India will block cryptocurrency.
Thus digital currency becomes a controversy in India. Furthermore, Indians also have their eyes frozen on the new crypto laws of the Indian Government.
Moreover, the Crypto constitution in India will arrive soon. The Indian cryptocurrency bill will be considered On 29 Nov, Monday, In Lok sabha ( lower Indian parliament house), in the following winter session.
Latest Tweets About Indian Crypto Bill:
I just got off with a call with a few high-level officials from MOF [Ministry of Finance]. There is no complete ban, but the direction is to regulate crypto in line with FATF [Financial Action Task Force] guidelines.
A tweet by Kumar Gaurav on Wednesday, the CEO of crypto banking platform Cashaa.
Gaurav posted on his tweeter in a positive way. “cryptocurrency will be an asset class, and Security And Exchange Board Of India will regulate it. Cryptocurrency exchanges will need to get their license from the managers”.
In an interview with CNBC, The CO- CEO of Indian cryptocurrency exchange Zebpay, Avinash shaikh narrated that:
“I believe that we should have some sort of systematic laws but on the harder side”.
Shekhar explained that two weeks earlier when we met the Finance Committee Of The Indian Parliament we have found a positive ambiance. The message that is conveyed to us was the Indian government wants to implement strict rules but there is nothing that exists like blocking cryptocurrency.
Priyanka Chaturvedi (parliamentarian) also added some words on her tweeter on this trending topic of blocking this digital currency in India.
If true, this is a recipe for disaster India doesn’t need. And, banning all private cryptocurrencies is basically killing the space- robbing India of creating an ecosystem for new-age fintech.
In addition to this, some media channels were highlighting information. That the Indian government is intending to block all cryptocurrencies. Only The Central bank, the Reserve Bank of India (RBI) allowed managing central bank digital currencies.
Recently, Indian Prime minister Narendra Modi expressed his urge, that all democratic countries should work unitedly on digital currency. And make sure that does not finish up on bad terms and results in damaging the young generation of our country”
Please don’t forget to leave your comments and feedback. As well as you can connect with us on our NFT based community on our social media accounts on Instagram, Facebook, and Twitter. Feel free to share your thoughts, and comments with us.
Disclaimer: We are not experts or financial advisors. Kindly, take your decisions at your own risk.