Will digital currency be banned in India?

Source image
In response to a question in Parliament recently, Minister of State for Finance Anurag Tagore assured that the Center was not thinking of banning digital currency indiscriminately. The country's first Bitcoin ATM is located in Bangalore. Besides, Facebook is going to bring its own digital currency called 'Libra' soon.

Highlights
In response to a question in Parliament recently, Minister of State for Finance Anurag Tagore assured that the Center was not thinking of banning digital currency indiscriminately.
The country's first Bitcoin ATM is located in Bangalore.
Besides, Facebook is going to bring its own digital currency called 'Libra' soon.

An inter-ministerial government committee has called for a ban on digital currency in India. This high-powered committee has already informed the Center of its recommendation. In response to a question in Parliament recently, Minister of State for Finance Anurag Tagore assured that the Center was not thinking of banning digital currency indiscriminately. News of the central initiative of the Digital Currency Ban came before his remarks were cut short.

A committee headed by Finance Secretary Subhash Chandra Garg has drafted a bill banning diesel currency. Public opinion has been sought on 'Banning of Cryptocurrency and Regulation of Official Digital Currency Bill, 2019'. After receiving the statement from the people, he took the next step in this regard.

The Reserve Bank of India has already taken various steps to curb cryptocurrency. The country's central bank has issued strict guidelines to banks and financial institutions to refrain from any such services. The country's first Bitcoin ATM has been set up in Bangalore in the wake of the RBI's arrest. Besides, Facebook is going to bring its own digital currency called 'Libra' soon.
Thanks for Visiting My Content.