Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

India To Consider Banning Private Crypto Ownership Amid Meteoric Rise in Digital Asset Investments: Report

by Daily Hodl Staff
July 12, 2021
in Regulators

Legislators in India are reportedly gearing up to present a cryptocurrency bill that will prohibit the ownership of private digital assets in the country. 

According to PRS Legislative Research, a non-profit organization that tracks the activities of the Indian Parliament, the proposed Cryptocurrency and Regulation of Official Digital Currency Bill is listed for introduction, consideration and passing.

The proposal aims to facilitate the creation of India’s central bank digital currency (CBDC) and ban private crypto ownership in the country. It provides exceptions, however, for coins that promote the underlying technology of cryptocurrency and its uses.

The bill may be presented during the Parliament’s Monsoon session, which kicks off on July 19th.

The potential tackling of the crypto-focused bill comes amid the massive growth of digital asset investments in India. According to CNBC-TV18, Indians invested $6.60 billion in cryptocurrencies in May, marking a 615% increase from just $923 million in April 2020.

Union Finance Minister Nirmala Sitharaman says that a lot of work has already been done on the proposed law, including gathering feedback and views from stakeholders, The Hindu reports.

“The Cabinet note is ready. We have to see when the Cabinet can take it up and consider it so that then we can move it.

From our side, I think one or two indications that I have given is that at least for fintech, experiment and pilot projects a window will be available. The Cabinet will have to take a decision.”

In March, Sitharaman indicated that the Indian government plans to take a more neutral stance on crypto.

“There will be a very calibrated position taken. A lot of mixed messages are coming from across the world. I don’t think there is either a complete, ‘Go this way’ or a complete, ‘Go that way’ in this matter. We will have to take a very calibrated position. The world is moving fast with technology and we can’t pretend that we don’t want it…

We are not closing our minds. We are certainly looking at ways in which experimentation can happen in the digital world and cryptocurrency.”

Check Price Action

Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

 
Check Latest News Headlines


 
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/GrandeDuc

Submit a Press Release

Industry Announcements

  • Saddle Finance Announces End of Lock-Up Period for Its SDL Token
    June 24, 2022
  • NFTs Accessible to All With Launch of Fiat-Focused SIMBA Market
    June 23, 2022
  • Korea Blockchain Week To Hold First Live Event in Seoul After Covid Hiatus
    June 23, 2022
  • CoinLoan Partners With Elliptic To Provide Crypto Users With Top-Notch Security
    June 22, 2022
  • Gate.io – The Crypto Winter Is a Good Time To Accelerate Web 3.0
    June 21, 2022
  • How the Earliest Soulbound Use Case Creates Real Web 3.0 Heroes
    June 21, 2022
  • ADI Whitelist – A Universal Identity Layer by Accumulate
    June 20, 2022
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$21,377.00
$21,377.00
1.55%
Ethereum
$1,229.53
$1,229.53
3.05%
Cardano
$0.510274
$0.510274
5.37%
XRP
$0.366826
$0.366826
2.79%
Dogecoin
$0.073838
$0.073838
11.74%

Spotlight

  • Cardano Founder Charles Hoskinson Comments on XRP Lawsuit, Calls It ‘Regulation Through Enforcement’
    June 21, 2022
  • Here’s What’s Next for Ethereum, Fantom and One Additional Altcoin, According to Analyst Michaël van de Poppe
    June 23, 2022
  • Top Bloomberg Analyst Says $20,000 Bitcoin May Be the New $5,000 – Here’s Why
    June 19, 2022
  • Trader Who Called 2018 Bear Market Bottom Says One Altcoin Already Gearing Up for Next Bull Market
    June 22, 2022
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2022 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2022 The Daily Hodl