According to local media reports, the Indian government is not going to directly ban cryptocurrencies, but is going to regulate the sector.
On November 23, Cointelegraph announced that the Government of India was examining a bill to create an official digital currency while banning all “private” cryptocurrencies.
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The news sparked panic on the local crypto exchange WazirX the next day, and the obscure wording of the bill and the lack of clarity from the government have divided many observers on the outlook for cryptocurrencies in India.
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