Media: In India, the cryptocurrency ban is preparing again

According to The Economic Times, the Indian authorities have returned to a bill that provides for a complete banonownership of cryptocurrencies and transactions with them.

Back in early 2018, the Reserve Bank of India (RBI) banned local banks from providing services to cryptocurrency companies. However, this year the country's Supreme Court overturned the Central Bank's ruling.

With reference to a high-ranking officialthe publication reports that this time it is not about a ban on the provision of banking services, but about a full-fledged bill prohibiting the circulation of cryptocurrencies in India. The Indian Ministry of Finance has already sent a request for an interdepartmental discussion of the document.

According to sources familiar with the situation, afterinterdepartmental discussion the document will be sent to the cabinet of ministers, and then to parliament. If the document really provides for a ban on operations with cryptocurrencies in India, then this could mean the death of the entire cryptocurrency industry in the country. The industry has already been significantly weakened by previous prohibitive measures.

Note that back in July last year in the databaseData from Scribd, a document appeared titled "Banning Cryptocurrencies and Regulating Official Digital Currencies", which was a draft law banning cryptocurrencies in India. After that, cryptocurrency enthusiast, venture capitalist Tim Draper, sharply criticized the Indian government.

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