Former finance secretary of India clarified that “it is misleading to say that private cryptocurrencies will be banned.”

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Former finance secretary of India clarified that “it is misleading to say that private cryptocurrencies will be banned.”

  • The parliamentary discussions around a controversial crypto bill sparked fears around the ban on cryptocurrencies, with no clear indication about the ban’s scope.
  • It is misleading to say that private cryptocurrencies will be banned and to intimate the government about the same.
  • As a result, the crypto community in India self-interpreted two different versions of the bill’s agenda – one that considers banning all non-government issued cryptocurrencies and the other that excludes cryptocurrencies running on public blockchains such as Bitcoin and Ether.

[Via]

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