The budget session of Parliament is all set to introduce a new bill that bans private cryptocurrencies and provides for an official digital currency to be issued by the Reserve Bank of India.The Union Budget, which will be presented on February 1, is looking towards the introduction, consideration, and passing of the Cryptocurrency and Regulation of Official Digital Currency Bill.Apart from prohibiting all private cryptocurrencies in India, the bill also seeks to create a facilitative framework for an official digital currency issued by the RBI.

The budget session of Parliament is all set to introduce a new bill that bans private cryptocurrencies and provides for an official digital currency to be issued by the Reserve Bank of India.The Union Budget, which will be presented on February 1, is looking towards the introduction, consideration, and passing of the Cryptocurrency and Regulation of Official Digital Currency Bill.Apart from prohibiting all private cryptocurrencies in India, the bill also seeks to create a facilitative framework for an official digital currency issued by the RBI.