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India’s Cryptocurrency and Regulation of Official Digital Currency Bill, 2021

Bitcoin is the pioneer among cryptocurrencies launched in 2009. The slide deals with the new crypto bill introduced by the government of India to restrict and regulate cryptocurrencies . For additional information, please visit the website at the end of ppt<br>

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India’s Cryptocurrency and Regulation of Official Digital Currency Bill, 2021

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  1. India’s Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 Bitcoin news today series

  2. Provision of the proposed Bill • Prohibition on all private cryptocurrency • No blanket ban with exceptions • Exception to aid promotion of underlying tech • Introduces official digital currency • RBI, India’s Central Bank to issue currency For More info on Bitcoin News Today

  3. Bill provisions pending clarity • Private cryptocurrencies are not defined • Classification of all available crypto a difficult task • Nature of the proposed digital currency • Sector regulator of exempted sectos

  4. Need for crypto regulation • PM Modi stand to check crypto falling into wrong hands • RBI Governor sated Crypto as threat to financial stability • Poses challenge to Monetary policy • Cryptocurrencies introduced to scam investors • Cryptocurrencies - a payment mode for ransom, drug and arms smuggling

  5. Advantages of the bill • Secure investors from scams • Insulate investors from price fluctuations • Assert state sovereignty over currencies • Promote underlying technology through conducive environment

  6. Challenges associated • Cryptocurrencies will move underground • Restrictions and Bans rarely work • Investors will face increased risk without regulations • Hinder tech adoption • Startups dealing with crypto will sink

  7. Contact Us • At Abitcoin, we provide daily and real time update about Bitcoin News Today • Abitcoin blogs • Bitcoin FAQ

  8. Thank You !

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