India proposes law to ban cryptocurrencies

The Centre plans to introduce a law to ban private cryptocurrencies such as bitcoin and put in place a framework for an official digital currency to be issued by the central bank, according to a legislative agenda listed by the government.
The law will "create a facilitative framework for creation of the official digital currency to be issued by the Reserve Bank of India [RBI]," said the agenda, published on the Lower House website on January 29.