Only pre-approved cryptocurrencies will be allowed to be traded on Indian exchanges.

In this month’s parliamentary session, the Indian government intends to introduce a cryptocurrency bill.

Although there are no plans to restrict digital assets, it is possible that only pre-approved cryptocurrencies would be allowed to be sold on exchanges.

Thousands of peer-to-peer exchanges around the country may face difficulties as a result of a pre-verification strategy.

India wants to tighten cryptocurrency regulations by allowing just specific digital assets to be exchanged on cryptocurrency exchanges. According to Reuters, this procedure is now being discussed, and the administration intends to introduce and enact legislation for the new asset class during this month’s parliamentary session.

India is set to introduce a new cryptocurrency bill.

The Indian government will introduce a new cryptocurrency regulatory law during the winter session of parliament, which will prohibit the use of digital assets as payment but allow for their trading as asset

Earlier this week, government institutions, including the Reserve Bank of India (RBI), met with officials from the cryptocurrency business. The government proposed prohibiting the issuing…