The government is likely to bring a bill in the ensuing winter session of Parliament to bar all but a few private cryptocurrencies and create a framework to regulate digital currency issued by the Reserve Bank of India.
The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 seeks to "create a facilitative framework for the creation of the official digital currency to be issued by the RBI. It also seeks to prohibit all private cryptocurrencies in India, however, it allows for certain exceptions to promote the underlying technology of cryptocurrency and its uses", as per the bill listed for introduction on the Lok Sabha website.