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Cabinet says 'all cryptocurrencies will be regulated, not banned': Report

Shortpedia

Content Team
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A note released by the Cabinet on December 2 on the proposed cryptocurrency bill has suggested regulation of private cryptocurrency instead of completely banning the currency, NDTV report said. The note claimed that cryptocurrency will not be recognized as India’s legal digital currency. The legislation describes cryptocurrency as 'cryptoasset' and it will be dealt with the existing crypto exchange platforms which will be regulated by SEBI.