All Private Cryptocurrency Will Be Regulated, Not Banned: Sources

A Cabinet note circulated by the government on the proposed cryptocurrency bill has suggested regulation of private cryptocurrency rather than banning it. The note also says that crypto will not be recognised as legal currency in India. Further, the legislation describes Cryptocurrency as Cryptoasset, according to the note. Cyrptoassets will be dealt with crypto exchange platforms which will be regulated by Securities and Exchange Board of India (SEBI).

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