The Government of India has list a bill of private cryptocurrencies to be ban in India, in budget session of 17th Lok Sabha. The list includes Bitcoin, Ethereum, Ripple, Uniswap, etc.
This is second time government of india banning cryptocurrencies, RBI banned it in 2018 through bank and e-wallets. But Supreme Court back the decision after circulation issued by central bank.
Reserve bank of india creating official digital currency and will passing the bill of ‘The Cryptocurrency and Regulation of Official Digital Currency Bill 2021’. In Lok Sabha, the government mentioned that the bill is for to create a facilities framework for creation of official digital currency.
The craze of people for cryptocurrency is increasing due to increase in pricing of Bitcoin. This is the first time that the price of Bitcoin increasing so fastly than ever before. The Application of cryptocurrency in India like Zebpay and WazirX has increasing users after Supreme Court lifted ban on cryptocurrency in March 2020.