India: Bill to ban cryptocurrencies, won't make it to Winter Session of Parliament.

There are a few countries where the bodies that influence the legislature do not look upon cryptocurrencies with delight. Unfortunately, to one of [...] https://www.pinterest.com/pin/1085437947660215829/

There are a few countries where the bodies that influence the legislature do not look at cryptocurrencies with delight. Unfortunately, one of them includes India. A country that is home to over 1.3 billion people - which is about 17% of the entire population on Earth. Let's go back to the past for a moment. In April 2018, the Reserve Bank of India, called on the remaining banks in India to stop providing services to any cryptocurrency-related businesses. We wrote about the problems of Indian crypto entrepreneurs here. Currently, trading and trading in digital currencies remains legal in India. Is the worst ahead? The Indian government had planned to address the cryptocurrency issue in the Winter Session of Parliament. However, according to the agenda, the bill titled "Prohibition of Cryptocurrencies and Regulation of Official Digital Currencies" will not come up during the Winter Session of the Indian Parliament. Unfortunately, the title is no coincidence here, as the bill proposes an actual and complete ban on cryptocurrencies in India. However, on the other hand, the subject of the bill was also supposed to be the introduction of the "Digital Indian Rupee". Of course, the issuer of this currency would be the Reserve Bank of India. It is also worth noting that the potential bill, does not ban the use of blockchain technology and related crypto solutions. Momentary relief As Sohail Merchant, CEO of Indian cryptocurrency exchange Pocketbits, comments on the situation, this is a temporary relief. At the same time, he calls for people to unite and present their ideas to the regulators. As we can read in the tweet: Translation: The Crypto Banning Bill did not appear on the Winter Session Agenda of Parliament. This is a relief for now, but let's use this time to join forces and present our point of view to regulators. Let's forget about competition/ego, let's let our thoughts resound in common words. Nischal Shetty, CEO of another cryptocurrency exchange - Wazirx - announced that the delay is good for the cryptocurrency ecosystem in India. He also suggested that the government needs more time to rethink the issues of a complete ban on cryptocurrencies. "It's great to see that the Indian Government is taking its time with this. They [the government] are listening." Tags bitcoin in India India India cryptocurrencies cryptocurrencies india