The Indian government is considering imposing a ban on what it calls "private cryptocurrencies" in the country.
At the 19th meeting of the Financial Stability and Development Council (FSDC) on Tuesday, the country's finance minister Arun Jaitley discussed "the issues and challenges" of crypto assets and cryptocurrency, among other things, according to a press release issued by the government's Press Information Bureau.
In the discussion, the council was briefed on the "deliberations" by a high-level committee chaired by the secretary of economic affairs to come up with an "appropriate legal framework to ban use of private crypto currencies in India."