The government of India is stepping up initiatives once more to totally ban public cryptocurrencies of any kind. The Economic Times on Friday covered that several government divisions are backing the idea to completely prohibit any kind of type of cryptocurrency related task.

Details kept in mind were citing government officials knowledgeable about the information. It was said that the Division of Economic Affairs (DEA), Central Board of Direct Taxes, Central Board of Indirect Taxes as well as Customs and the Investor Education And Learning and Defense Fund Authority are all backing the prohibiting of cryptocurrencies and also connecting activities.

“Banning of Cryptocurrencies and Regulation of Official Digital Currencies Bill 2019,” is the name of the promoted bill according to sources. They further showed that based upon all feedbacks from the departments that were sought advice from, are anticipated to be fully proposed to the country’s government in May, after elections.

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