The Indian government will be considering a bill that would create a digital rupee starting as early as next week, but may also ban certain cryptocurrencies in the country.
According to a Tuesday publication, India's lower house of parliament, Lok Sabha, will consider The Cryptocurrency and Regulation of Official Digital Currency Bill as one of 26 new bills when the government body convenes for its winter session next Monday. The document states that lawmakers could vote on legislation that creates “a facilitative framework for creation of the official digital currency” issued by the country’s central bank, the Reserve Bank of India. In addition, the bill proposes the prohibition of “all private cryptocurrencies” with the exception of assets “to promote the underlying technology of cryptocurrency and its uses.”