Experts divided on how far India's 'private crypto' ban will go

Experts divided on how far India's 'private crypto' ban will go


Government documents from 2019 have been cited by an Indian crypto expert to suggest that the proposed ban on all “private cryptocurrencies” could include just about every crypto. 

The Indian government this week announced it would introduce the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 when it convenes at the Winter Session on Nov. 29.

The bill seeks a legislative vote on creating an official digital currency while imposing a ban on “all private cryptocurrencies.” However, there seems to be a lot of confusion regarding what exactly constitutes a “private cryptocurrency,” with some users speculating it could refer to “privacy” coins such as Monero or Zcash.

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Founder of crypto news website CoinCrunch India, Naimish Sanghvi, explained in a Nov. 25 interview on India Upfront that

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