Over one in two Indians don’t want digital currencies to be legalised. But they support the Reserve Bank of India (RBI) to roll out digital currency, a LocalCircles survey said.
Vague idea
76% want cryptocurrency ads to be put on hold till there is regulatory clarity. 71% of Indians currently have low or zero trust in foreign cryptocurrencies.
51% want the government to roll out its own digital currency and 54% of Indians don’t want the government to legalise cryptocurrency.
Cryptocurrency bill
On November 23rd, the Government listed “The Cryptocurrency and Regulation of Official Digital Currency Bill 2021” to be presented in the Parliament’s Winter Session, seeking to prohibit all private cryptocurrencies trading in India. But it will allow certain exceptions to promote the underlying technology of cryptocurrencies and its uses.
The bill came after Prime Minister Narendra Modi and RBI raised concerns again about these digital currencies. Industry experts claim that India’s digital currency market is estimated to have grown from $923 million in April 2020 to $6.6 Billion in April 2021.
