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The Indian Express

25 Nov, 10 tweets, 6 min read

The #Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, listed for introduction in Parliament’s Winter Session starting Nov 29, seeks to “create a facilitative framework for the creation of the official digital currency to be issued by the RBI”.

The Bill “seeks to prohibit all private cryptocurrencies in India, however, it allows for certain exceptions to promote the underlying technology of #cryptocurrency and its uses”. indianexpress.com/article/techno…

#ExpressEditorial | To be sure, there are legitimate concerns over #cryptocurrencies. But an outright ban, even though there are questions over its enforceability, would not be the prudent way forward: indianexpress.com/article/techno…

Some of the experts say that it means that all cryptocurrencies other than Central Bank Digital Currency (CBDC) will be banned, others say it means that cryptos that do not have a public ledger to track transactions will be banned.
#cryptocurrency

Different interpretations about the definition of ‘private cryptocurrencies’ have also orchestrated an environment of fear among retail crypto investors: indianexpress.com/article/techno…
#CryptocurrencyNews

Prices of #cryptocurrencies on local exchanges crashed overnight after the news broke, even though they remained largely unchanged in global markets.

The stance of countries and regulators has ranged from a total ban on these financial assets, to allowing them to operate with some regulations, to the other extreme of allowing virtual currency trading in the absence of any guidelines.
#CryptocurrencyNews

Countries such as India are somewhere in between — still in the process of figuring out the best way to regulate #cryptos after some policy and regulatory experimentation. The USA and EU have been proactive in trying to pin down the regulatory mandate, while discussions continue.

How would a Central Bank Digital Currency (CBDC) work? indianexpress.com/article/explai…

Meanwhile, while some netizens lamented the proposed private #cryptocurrency ban, some others have shared sarcastic memes. Take a look: indianexpress.com/article/trendi…

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