The Lok Sabha stated on Tuesday that a measure to ban private cryptocurrencies will be introduced in the forthcoming winter session of parliament, and that the government will build a framework for a central bank-backed digital money.
According to the Lok Sabha website, the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, is one of 26 bills set to be introduced, which begins on November 29.
This comes just a week after a Parliamentary panel chaired by BJP leader Jayant Sinha studied the benefits and drawbacks of crypto finance with a variety of stakeholders and came to the conclusion that digital currencies cannot be halted but must be regulated.
The bill aims to “prohibit all private cryptocurrencies in India" but allows for “certain exceptions to promote the underlying technology and its uses".
Cryptocurrency investors in India are panicking, and like always; they seem to have found peace in making memes to cope up.
Have a look at a few hilarious memes that have taken over the internet:
