The Indian government is introducing a bill to ban all private cryptocurrencies in India. The government is, however, providing certain exceptions in order to promote underlying technology of cryptocurrency.

The Cryptocurrency and Regulation of Official Digital Currency Bill 2021 is among 26 new bills on the government’s agenda for the Winter Session of Parliament which will begin on November 29.

The bill seeks to create a scope of framework to create official digital currency which is to be issued by the Reserve Bank of India.

Here’s how netizens are reacting to the news on Twitter.

The WazirX app crashed today after heavy user activity as users rushed to sell the cryptocurrency they held before a speculated cryptoban in India.

Also read: Stablecoins: These cryptocurrencies threaten the financial system, but no one is getting to grips with them

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