Wednesday Dec 08, 2021

Cryptocurrency Bill: What Does Private Cryptocurrency Mean?

Cryptocurrency rates begin to fall after a bill discussed in the Indian Parliament. What is Cryptocurrency Bill? What does private cryptocurrency mean? Well, after reading this article, you will have enough understanding of private cryptocurrencies.

Bitcoin, Ether, Dogecoin, Shiba Inu and some others fall under public cryptocurrencies as their transactions are completely transparent. While Monero, Zcash, and Dash fall under private cryptocurrencies as their transactions are not completely private.

There are public and private cryptocurrencies available in the market. Public cryptocurrencies show their ledger statements publicly as anyone can access and view data. Private cryptocurrencies hide their ledger statements.

What is Cryptocurrency Bill?

Cryptocurrency Bill is a discussion point in the Indian Parliament on the trade of virtual currencies as the government fears about the youth. It is still an ongoing discussion and we will keep updating the news as soon as we get more information from the government.

Is Cryptocurrency Banned in India?

Currently, there is no regulation or any ban on the use of Cryptocurrencies but there is a discussion going on about it in Parliament.

Is Bitcoin a public cryptocurrency?

Yes, Bitcoin is a public cryptocurrency and as per the government regulations, it may not ban. There are many other public cryptocurrencies available in the market like Ether, Dogecoin and many more.

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