No Bitcoin but Govt may float digital Rs

The Centre is going to table a Bill in the Budget Session of Parliament banning all private cryptocurrencies such as Bitcoin in India and to deal with the creation of a legislative framework for an official digital currency. The Reserve Bank of India (RBI) is exploring the option of issuing a digital version of the rupee, which could serve as the Central Bank Digital Currency (CBDC).

The Bill, ‘The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021’ is to be tabled in the Lok Sabha Session as per the papers placed before the Parliament bulletins.