The government of India did not include the bill on the ban on cryptocurrencies and the regulation of official digital currencies on the agenda of the winter session.
In the summer, the country's authorities announced that they were planningdiscuss this project between November 18 and December 13. The bill involves not only introducing a complete ban on the use of cryptocurrencies, but also issuing a digital rupee by the Reserve Bank of India. It does not affect blockchain and related technologies or applications based on it.
The news of the postponement of consideration of the bill wasjoyfully received by representatives of the localcrypto communities. According to them, this will give additional time for preparation and association for the joint protection of the industry. Some even believe that the government decided not to rush into the ban in order to reconsider their views on this issue.
However, additional time may beused to revise mechanisms towards tightening. Since earlier in the process of discussing the bill, the government proposed introducing punishment up to a ten-year prison term for the illegal use of virtual assets.
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