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This article originally appeared on gobankingrates.com:
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A media report revealed that the indian government will propose a ban.
An indian official has reportedly confirmed that the country's government will propose a ban on holding or using cryptocurrency. And other countries may follow suit. India's plan to ban bitcoin faces resistance as its crypto crowd fights back premium india has done exceedingly well in mobile payments, the bureaucracy has developed a phlegmatic resistance to. Bitcoin's mainstream charge raises stakes for central bank digital cash; The framework will be decided during the current budget session of the parliament. It looks like india is planning to introduce a law to ban cryptocurrencies like bitcoin and provide a framework for the creation of an official cbdc. A senior indian government official has informed reuters that the nation of india is set to propose a law banning cryptocurrencies. Government, but even if would go. Prices then pulled back 3% to the $58,000 level on reports that india would. India cannot afford to ignore new technologies when the world is fast embracing them; India's government plans to introduce a bill in the country's lower house that would ban private cryptocurrencies such as bitcoin and create a national cryptocurrency. Here is story so far. Bitcoin news editor in bitcoin news wire february 10, 2021.
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India proposes ban on bitcoin — and the us could be next.
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