Cryptos Not For India
The Times of India Mumbai|November 26, 2021
GoI should ban cryptocurrencies without exceptions. Blockchain technology can be explored anyway
Usha Thorat
Cryptos Not For India

Cryptocurrencies have caught the Indian public, especially the young, by storm. The pace of activity in the cryptomarket has been exponential – numbers that are being quoted are astounding and vary so much that one is not even sure of the rough number of Indians and the amounts involved. One in every 10 Indians? Anxious not to miss the bus, each day more and more people seem to be getting into it.

A high-powered inter-ministerial committee (Garg committee) studied the cryptocurrency in all its ramifications in 2019. It came out with an excellent report and proposed a draft bill banning all private virtual cryptocurrencies. GoI was ready to introduce the bill in Parliament this year.

It is now understood that a new bill will be introduced in the forthcoming session. The stated aim is: “To create a facilitative framework for creation of the official digital currency to be issued by the Reserve Bank of India. The bill also seeks to prohibit all private cryptocurrencies in India, however, it allows for certain exceptions to promote the underlying technology of cryptocurrency and its uses.”

This story is from the November 26, 2021 edition of The Times of India Mumbai.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.

This story is from the November 26, 2021 edition of The Times of India Mumbai.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.

MORE STORIES FROM THE TIMES OF INDIA MUMBAIView All
US soccer scrubs Islamic emblem from Iran flag
The Times of India Mumbai

US soccer scrubs Islamic emblem from Iran flag

The federation said in a statement Sunday that it decided to forego the official flag on social media accounts to show “support for the women in Iran fighting for basic human rights.”

time-read
2 mins  |
November 28, 2022
Pyar Ke Saat Vachan Dharam Patnii begins on TV tonight
The Times of India Mumbai

Pyar Ke Saat Vachan Dharam Patnii begins on TV tonight

What happens when kismet takes over the lives of two couples belonging to two different sections of society?

time-read
1 min  |
November 28, 2022
Arijit serenades music lovers in Mumbai
The Times of India Mumbai

Arijit serenades music lovers in Mumbai

Arijit Singh casts a spell with his voice

time-read
2 mins  |
November 28, 2022
ARGENTINA LIVE TO FIGHT ANOTHER DAY
The Times of India Mumbai

ARGENTINA LIVE TO FIGHT ANOTHER DAY

Messi's Strike Rattles Mexico And Lusail, Brings Team Back From The Brink

time-read
4 mins  |
November 28, 2022
Costa Rica come alive
The Times of India Mumbai

Costa Rica come alive

Los Ticos Stun Japan With Late Fuller Winner

time-read
1 min  |
November 28, 2022
Morocco's moment under the sun
The Times of India Mumbai

Morocco's moment under the sun

Inspired Atlas Lions Shock Belgium For First WC Win In 24 Years

time-read
3 mins  |
November 28, 2022
ON YOUR MARK, GET SET, SOAR
The Times of India Mumbai

ON YOUR MARK, GET SET, SOAR

Athletics Icon Usha Set To Become First Woman President Of IOA

time-read
2 mins  |
November 28, 2022
Industry body calls for slower rate hikes
The Times of India Mumbai

Industry body calls for slower rate hikes

CII Asks RBI To Moderate Pace Of Raising Repo As Global Woes May Impact Growth

time-read
2 mins  |
November 28, 2022
The Times of India Mumbai

Insurance reforms may see PE funding surge in sector

Irdai Raises Investment Cap, Allows PEs To Be Promoters

time-read
1 min  |
November 28, 2022
Cut ties with child-killing regime, Khamenei's niece tells world, held
The Times of India Mumbai

Cut ties with child-killing regime, Khamenei's niece tells world, held

Iranian authorities have arrested a niece of supreme leader Ayatollah Ali Khamenei after she recorded a video describing the authorities led by her uncle as a “murderous and child-killing regime”.

time-read
1 min  |
November 28, 2022