Tough road ahead for India's Crypto moment

New Delhi, Dec 24 The Cryptocurrency and Regulation of Official Digital Currency Bill 2021, seeking to prohibit all private cryptocurrencies in India, was set to be tabled in the Winter Session of Parliament that began on November 29. But the Bill did not make it to the table second time in a year as the chorus around the legality of digital coins and how to safeguard investors' money grew louder.

Grave concerns have now been raised over the misuse of digital coins on the Dark Web for terror acts and drugs trafficking by militant organisations, and for money laundering and hawala-based transactions posing serious threat to national security and a big challenge to the security agencies in India.

While the Reserve Bank of India

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