New Delhi: The Center is likely to introduce a bill in the budget session on banning private cryptocurrencies, including bitcoin. It is also possible that the trading of all private cryptocurrencies will be completely banned in India.
In 2019, a government panel proposed to punish those who buy or sell cryptocurrencies from outside. The panel also said that India was introducing its own digital currency. The government aims to introduce an official digital currency that will be issued directly by the Reserve Bank.