According to an anonymous source of Bloomberg, in the near future, the Indian Parliament will receive a bill completely banning the use of cryptocurrencies in the country.
Apparently, the source of the publication occupies a high position in the Indian Ministry of Finance. According to him, a complete ban on cryptocurrencies in the country is being prepared, including on trading on foreign cryptocurrency platforms for Indian citizens.
That being said, Indian citizens who already own digital assets will be given a certain period to get rid of their cryptocurrencies. It is expected that this will take from three to six months.
The reason for the ban on cryptocurrencies is that such assets “are not supported by the central bank of India.” Therefore, for the digital rupee, if launched by the regulator of India, the ban will not work.
As the co-founder and CEO of major Indian cryptocurrency exchange Unocoin, Sathvik Vishwanath noted, the local community is eagerly awaiting the Parliament’s decision:
“If the government still accepts a complete ban on all cryptocurrencies, with the exception of those supported by the state, then there will be no reason for us to continue working in India. But for now we will wait and see. ”
Earlier it was reported that such a ban in India could be introduced as early as March this year.
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