A proposal to ban all private cryptocurrencies has been added to the agenda of India’s parliament, just days after Prime Minister Narendra Modi argued things like bitcoin could end up in the “wrong hands” and “spoil our youth.”

The bill would create a framework for an official digital currency and “prohibit all private cryptocurrencies in India,” according to Tuesday’s announcement by the Lok Sabha, India’s house of representatives.

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It will be on the legislature’s agenda when it convenes for the winter session on November 29, 2021. India’s previous ban on cryptocurrency was overturned in April 2020, leading to a booming cryptocurrency market.

While no official data is available, industry estimates cited by Reuters have put the number of crypto investors in India between 15 and 20 million people, with holdings worth up to 400 billion rupees ($5.4 billion).

India’s Rothschild owned central bank has expressed “serious concerns” about private cryptocurrencies such as bitcoin or ethereum, and said in June it was working on its own digital currency, to be introduced by the end of the year.

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China effectively banned bitcoin in September, outlawing all crypto-related trading activities at home and banning foreign exchanges from doing business with the mainland investors.

Meanwhile, the Central American nation of El Salvador has declared bitcoin legal tender alongside the US dollar, and set up crypto mining facilities powered by geothermal energy from volcanoes.

RT. com / ABC Flash Point News 2021.

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Meer Rollings
Meer Rollings
Guest
23-11-21 21:59

These Neoliberal technocratic Zionist shoe lickers know exactly what these Cia bitcoins will lead to. These backward Hindus think they out smart everyone,

Steve Arthur
Steve Arthur
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Reply to  Meer Rollings
23-11-21 22:01

comment image

Sadhaka Padma
Sadhaka Padma
Guest
Reply to  Steve Arthur
23-11-21 22:15

No
It has no value
People who give money to an anonymous entity, deserve to lose it all

Steve Arthur
Steve Arthur
Guest
23-11-21 22:00

So around about Monday there could be a nice little dip to buy in. Also interesting a WHALE bitcoin account recently reactivated after being dormant for 8 years…

Steve Arthur
Steve Arthur
Guest
Reply to  Steve Arthur
23-11-21 22:01

If India made Bitcoin legal tender they would be superpower within five years..

Sadhaka Padma
Sadhaka Padma
Guest
23-11-21 22:12

If India made Bitcoin legal tender they would be superpower within five years..