Newly proposed bill may shake up India’s crypto space

Details:

• The bill, called the Cryptocurrency and Regulation of Official Digital Currency Bill, will be submitted for consideration at this year’s winter session discussion at the Parliament of India.
• While the draft of the bill is not publicly available, some observers assume that it will be similar to a draft introduced in January this year that aims to ban all private cryptocurrencies in the country.

Dive deeper:

• Aside from India, China has also declared a ban on all cryptocurrency transactions and mining.
• In Indonesia, a council of religious leaders has declared crypto assets as forbidden or “haram” as a currency, while the government prefers to regulate the sector through the Commodity Futures Trading Regulatory Agency (Bappebti).