Central Government lists bill in winter session to ban all private cryptocurrency
The Indian government is set to introduce a bill to ban private cryptocurrency. Last week, PM Narendra Modi had said that bitcoin is posing a threat to the youth. India will be the second major economy to announce a ban on cryptocurrency. Earlier in September, China had declared all transactions in cryptocurrency illegal. In April last year, the Supreme Court had overturned the order banning cryptocurrency. According to an organization called Chainalysis, investment in cryptocurrency has increased by 600% in the last one year. In June last year, the Reserve Bank of India had announced that it is working on a plan to bring its own digital currency and it could be introduced by the end of this year.