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India to ban almost all private cryptocurrencies including Bitcoin in new clampdown
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euronews.comIndia is on track to ban all but a few private cryptocurrencies after the government announced on Tuesday it was introducing a new financial regulation bill.
The 'Cryptocurrency and Regulation of Official Digital Currency' bill will create a facilitative framework for an official digital currency to be issued by the Reserve Bank of India, and ban all private cryptocurrencies, such as Bitcoin and Ethereum.
Such a pre-verification approach would create obstacles for thousands of peer-to-peer currencies that thrive on being outside the ambit of regulatory scrutiny.
Earlier this month, Indian prime minister Narendra Modi said all democratic nations must work together to ensure cryptocurrency "does not end up in wrong hands, which can spoil our
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