India to ban cryptocurrencies

Print Friendly, PDF & Email
Share to Google Classroom

The Indian government has announced that it is going to ban private cryptocurrencies.

The proposed legislation follows a similar move in China were they have made all digital currency transactions illegal.

India also announced that the country’s central bank will launch an official digital currency.

India’s prime minister, Narendra Modi, said last week that cryptocurrencies could pose serious concerns to the financial stability of the country.

In September, El Salvador became the first country to accept a cryptocurrency, bitcoin, as legal tender.

2 Responses

  1. i like that becuase every bit coin is worth 83,827.03 dollers and what if someone is abusing there power by mining crypto?

Leave a Reply

Your email address will not be published. Required fields are marked *

There’s a new genius in town, and she’s only 2...
In a hair-raising tale from Uttar Pradesh, India, meet Smita...
In a bizarre incident in Newcastle, New South Wales, Australia,...
The Comedy Wildlife Photography Awards are back, and this year...

World & National News

Protests have been carried out around New Zealand in response...
Gerry Brownlee has been elected as the Speaker of the...
Kia ora! Kia whakamōhio mātou i a koe ki tētahi...
New Transport Minister Simeon Brown has asked the New Zealand...