India’s government is once again looking to ban cryptocurrencies and regulate official digital currencies. According to a report by India’s Economic Times, the government has kickstarted inter-ministerial consultations on a draft bill, which has reportedly been shared with relevant government departments. Sources have revealed that several departments within the country’s government have already backed the notion of enforcing a complete ban on the “sale, purchase, and issuance of all types of cryptocurrency.” The committee also stated that since cryptocurrency could be used for money laundering, a ban could also be achieved under the existing Prevention of Money Laundering Act (PMLA).…

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