*Representational image credit Goodreturns

The 'Cryptocurrency and Regulation of Official Digital Currency Bill, 2021' is set to be tabled on floor of the Indian Parliament soon.

It is  among 26 new bills on the government's agenda for the Winter Session of the Parliament. The 'Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 seeks to "create a facilitative framework for the creation of the official digital currency to be issued by the RBI".

The bill has been among of the most anticipated bills in the Winter Session this year, apart from the landmark Farm Laws Repeal Bill, 2021.

The Bill is particularly important as it seeks to prohibit all private cryptocurrencies in India, and allows for certain exceptions to promote the underlying technology of cryptocurrency and its uses.

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