The Government of India is preparing a new prohibition law cryptocurrency

Five months after the cancellation of the complete ban on the use of cryptocurrency, the Supreme Court of India, the country’s authorities are preparing a new law with similar restrictions.

According to the Indian publication MoneyControl, the Ministry of Communications and Information Technologies, the Ministry of Justice and the Reserve Bank of India are now actively developing a legal framework for prohibiting operations with digital assets. The government plans to ratify the law immediately after the start of the new parliamentary session.

According to officials, they no longer intend to introduce a full ban, as RBIs did in 2018, but to recognize illegal only trade in cryptocurrency, so as not to expose the economy to an additional risk.

Entrepreneurs also doubts that the authorities are decided on a complete ban, since over the past two years, the attitude towards digital assets in the country has changed and fate money was very affected by the outbreak of coronavirus.

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