Should 'private Cryptocurrencies' be banned in India? Experts' take

The RBI's official digital currency, also called Central Bank Digital Currency, has been in the works for a while

Friday’s Lok Sabha bulletin proposing to prohibit cryptocurrencies and make way for the Reserve Bank of India (RBI) to issue an equivalent of those has caused panic in the country’s cryptocurrency community.

Many say if bitcoin and etherium are banned, Rs 90,000 crore worth of crypto assets, belonging to 5-7 million Indians, will be at stake. The price of bitcoin, which went up on reports of chief executive officers (CEOs) such as Elon Musk putting #bitcoin as bio in their Twitter handle, has started coming down with some investors selling them. The bulletin has stated the government has listed a Bill