List of Cryptocurrency exchanges in India. · Belfrics · Bitxoxo · BTCX India · Buy UCoin · Coinsecure · Coindelta · Coin Switch · Flit Pay.
What Is Private Cryptocurrency?
Private Cryptocurrency is built on public blockchains, obfuscate the transaction information to offer privacy to users like not saving transaction history as they are routed through multiple networks.
Private Cryptocurrency in India List
- Oasis Network
- Mobile coin
- Keep Network
- Pirate chain
- Phala Network
- Haven Protocol
- Dusk Network
- Verus coin
- Byte coin
- Apollo currency
- Super zero Protocol
- Epic Cash
- Bitcoin private
- Raze Network
- Turtle Coin
Cryptocurrency Bill in India
The Modi government has decided to take strict measures to protect investors from the unregulated volatility of cryptocurrencies. Under this, the Government of India on Tuesday (November 23) announced the introduction of a cryptocurrency bill, under which all private cryptocurrencies will be banned in the country. As soon as this news came to the fore, the crypto market collapsed badly. At the same time, there has been a decline of 25 to 30 percent in all types of cryptocurrencies. Looking at this earthquake in the crypto market, let us understand what is the cryptocurrency bill and how will the central government control cryptocurrency with its help?
What is Cryptocurrency Bill?
According to the information, the Cryptocurrencies and Official Digital Currency Regulation Bill 2021 will be introduced by the Central Government in the winter session of Parliament for the regulation of cryptocurrencies. Through this bill, the government plans to create an easier framework for issuing an official cryptocurrency under the Reserve Bank of India. Preparations are also being made regarding its technology and use. Also, such a provision will be brought under this bill, which will ban all private cryptocurrencies. Significantly, 26 bills have been listed for introduction in the winter session. These include cryptocurrency bills.
PM Modi mentioned in Sydney Dialogue
Let us inform you that PM Modi has also held a high-level meeting with many ministries regarding cryptocurrency. Apart from this, he also mentioned cryptocurrency in his address during the Sydney Dialogue Program. PM Modi had said that take the example of cryptocurrency or bitcoin. It is very important that all democratic countries work on this. Also, ensure that it does not fall into the wrong hands, as it will have a bad impact on our youth.
Big fall in the crypto market
After this decision of the government, there has been a big decline in the cryptocurrency market. Bitcoin, Shiba Inu, USDT, Dogecoin, Ethereum, WazirX Token, Cordano, Ripple, BitTorrent are all down heavily. In today’s business, there is a decline of 18 to 25 percent in the currency.
the government will introduce the Bill on Cryptocurrencies in the winter session of Parliament. The name of this bill is ‘The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021′. The bill seeks to ban all private cryptocurrencies in the country. In such a situation, if this bill is passed by the Parliament, then there may be trouble for those investing in cryptocurrencies like bitcoin. However, it has also been demanded that certain exceptions be allowed to promote the underlying technology and its uses.
According to information received from an official document, ‘The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021‘ also seek to create a framework for the creation of official digital currency to be issued by the Reserve Bank of India.
No, The best-known cryptocurrencies like Bitcoin, Ether, Dogecoin, Shiba Inu and others are public as their transactions are completely transparent
No, it is not controlled or managed by any private entities, transactions are on the public ledger, and they are recognized as public cryptocurrencies in every major economy
Bitcoin, Litecoin, Ethereum are examples of public cryptocurrencies while Monero, Zcash, and Dash are private cryptocurrencies
There is currently no regulation or ban on cryptocurrencies in India