• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Jobs
  • Career
    • Cyber Security Training
    • Work from Home
    • Cyber Security Analyst
    • Remote Work – Six Ways to Keep Your Data Safe When Working Remotely
  • Field Guide
  • Newsletter Signup
  • Deals
  • News
AskCyberSecurity.com

AskCyberSecurity.com

Cyber Security News & Information

  • Home
  • Data Privacy
    • Gamers
    • Government Cyber Security
      • Legislation
      • Standards
        • What are the risks of computer security?
        • Medical Cyber Security
    • Social Media
  • Security
    • Data Breaches
    • Scams
    • Malware
  • Software
    • Apps
    • Web Browsers
  • Glossary
    • Cyber Security Acronyms
  • About Ask Cyber Security
    • Authors
    • Contact Us
  • VPN
    • How Do I Know If My VPN is Working?
    • Best Free VPN iPhone
    • Why Use a VPN?
    • NordVPN vs IPVanish
    • Private Internet Access Download
    • Best VPN for Streaming
      • TikTok VPN
    • VPN Porn
    • Computer Security Software – What You Really Need
  • Tutorials
AskCyber Home » News » News » India Moves to Ban Cryptocurrency

India Moves to Ban Cryptocurrency

2021-02-02 by Michelle Dvorak

Reserve Bank India

RBI may create its own official cryptocurrency in place of Bitcoin

Note: We are reader supported and may earn a small commission when you click on links in posts

The Parliament of India Lok Sabha has introduced an agenda item to consider banning all private cryptocurrencies. The plan was introduced on India’s lower parliament list of business bulletin on 29 January.

The agenda item, called The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 will ban all private cryptocurrencies. It is still in the introductory phase.

Visit Motley Fool

RELATED READ India Approves WhatsApp Pay

“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,” states item 12 on Lok Sabha Bulletin Part II.

The proposed bill was published on the Parliament of India’s lower Parliament website on the list of business.

Parliament of India Lok Sabha, House of the People, is the lower house of India’s Parliament.

READ PayPal Users Can Now Buy Bitcoin, Ethereum, Litecoin

In place of private cryptocurrencies, the Reserve Bank of India (RBI) will establish and regulate its own cryptocurrency. The nation’s yet to be named crypto coin will become the official cryptocurrency of RBI.

“To create a facilitative framework for creation of the official digital currency to be issued by the Reserve Bank of India.,” is also contained on the list of Parliamentary business.

The Reserve Bank of India is the country’s state-owned bank.

RBI has been working to extend digital payments to more people. In July, RBI approved the use of WhatsApp Pay. The app will provide another instant payment service and works as a peer-to-peer money transfer service.

Walmart’s PhonePe app is the most widely used payment app in India.

The government Business concerning the cryptocurrency regulation is expected to be taken up during the Fifth Session of Seventeenth Lok Sabha, 2021

Filed Under: News Tagged With: bitcoin, India

About Michelle Dvorak

Michelle writes about cyber security, data privacy focusing on social media privacy as well as how to protect your IoT devices. She has worked in internet technology for over 20 years and owns METRONY, LLC. Michelle earned a B.S. in Engineering from Rensselaer Polytechnic Institute. Michelle published a guide to Cyber Security for Business Travelers


LinkedInTwitterFacebook

Primary Sidebar

Subscribe to Our Free Newsletter

We Don't Share or Sell Your Info

Web Browsers

Where Are My Saved Passwords in Chrome?

Google Removes 70 Malicious Browser Add-ons from Chrome Web Store

Firefox 75 Reports Your Browser Settings to Mozilla

Categories

Cyber Security Field Guide

Computer Security While TravelingGet Our Cyber Security Field Guide - Available on Amazon!

Recent Posts

Vaccines for Sale on Dark Web Marketplaces

Cyber Information Systems Security Manager 2

Google Says Advertisers Don’t Need to Track Individual Across the Web

Malaysia Airlines Reports Data Breach

Intelligence Manager – Emerging Threats

IPVanish

IPVanish VPN

Cyber Security News

Vaccines for Sale on Dark Web Marketplaces

… [Read More...] about Vaccines for Sale on Dark Web Marketplaces

Google Says Advertisers Don’t Need to Track Individual Across the Web

… [Read More...] about Google Says Advertisers Don’t Need to Track Individual Across the Web

Malaysia Airlines Reports Data Breach

… [Read More...] about Malaysia Airlines Reports Data Breach

Email Scam Impersonates Your HR Department

… [Read More...] about Email Scam Impersonates Your HR Department

More Cyber Security News

Tags

amazon Android app Apple bitcoin China chrome CISA credit card Cyber Attack DHS Equifax Europe Facebook facial recognition FBI Firefox FTC games GDPR Google Government hacker identity theft India iPhone Iran IRS LinkedIn Microsoft North Korea PayPal phishing phishing email ransomware Romance Scam Russia smartphone tax scam TikTok tutorial VPN WhatsApp WiFi Windows

Government

FTC Releases Cyber Threat Video Playlist

Malware Found on US Government Funded Phones

UK NCA Reaches Out to Youth to Deter Cybercrimes

Texas DOT Hit by Ransomware Attack

More Posts from this Category

Footer

Menu

  • Home
  • About
  • Authors
  • Newsletter Signup
  • PRIVACY POLICY

Search

Why Use a VPN?

NordVPN vs IPVanish VPN Review

NAVIGATION

  • Data Breaches
  • Data Privacy
  • Gamers
  • Scams
  • Malware

MEMBER NJCCIC

New Jersey Cybersecurity & Communications Integration Cell

STAY CONNECTED

  • Facebook
  • Instagram
  • Pinterest
  • YouTube
  • Twitter
  • RSS

Copyright © 2021 · AskCyberSecurity.com · METRONY, LLC

Go to mobile version