The government of India was hardly trying to ban the crypto currency.the government designed a bill to ban all private crypto currency in India which will be likely to be introduce in the budget session of 2021.these bills have included Bitcoin and other crypto currency.

The government of India is trying to introduce a new crypto currency which is their own crypto that will be released by reserve Bank of India.The bill to ban crypto currencies is among the 20 bills that the government wants to produce during the Union Budget.The budget session will takes place in two installments.

in these budget session more than twenty bills along with crypto ban will be likely to be introduced.The main aim of the bill is to ban crypto and bring their own crypto currency.

The Center will bring it under the title The Crypto currency and Regulation of Official Digital Currency Bill, 2021. The RBI has said that the sovereign digital version of the rupee will be available soon. It is well known that the demand for private cryptocurrency has increased in recent times. This was stated by the RBI in its report.

The RBI already banned the usage of private crypto currency in 2018.The price of Bitcoin was dropped six times on that time. However, the Supreme Court officially given orders to made it legal in 2020. With this, the government is ready to bring the law.

In 2019, the government has prepared a similar bill for cryptocurrency. The draft bill would make it a criminal offense to buy or sell cryptocurrency, punishable by up to ten years in prison.

A lot of people in this span of time is selling their crypto due to the governments announcement.the one part of budget session is completed and they haven't pass the bill in this session.but still they have chance to pass the bill in upcoming budget session.there are so many developing countries legalized the crypto currency exchange.but some contries like China and India still against the crypto.