UPSC Exam > UPSC Questions > With reference to the Cryptocurrency and Regu...
Start Learning for Free
With reference to the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, consider the following statements:
1. It seeks to prohibit all private cryptocurrencies in India.
2. There is currently no regulation or ban on cryptocurrencies in India.
Which of the statements given above is/are correct?
- a)1 only
- b)2 only
- c)Both 1 and 2
- d)Neither 1 nor 2
Correct answer is option 'C'. Can you explain this answer?
| FREE This question is part of | Download PDF Attempt this Test |
Most Upvoted Answer
With reference to the Cryptocurrency and Regulation of Official Digita...
The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, listed for introduction in Parliament’s Winter Session starting November 29, seeks to “create a facilitative framework for the creation of the official digital currency to be issued by the Reserve Bank of India”.
- The Bill “seeks to prohibit all private cryptocurrencies in India, however, it allows for certain exceptions to promote the underlying technology of cryptocurrency and its uses”.
- There is currently no regulation or ban on cryptocurrencies in India; however, national responses to defining and regulating virtual currencies vary widely in jurisdictions around the world.
How are cryptocurrencies regulated in countries?
- the regulatory and policy response can vary from complete openness of the kind seen in countries like El Salvador, which has approved bitcoin as legal tender, to a total clampdown like in China, which has imposed stringent regulations on both cryptocurrencies and service providers.
- The United States and European Union have been proactive in trying to pin down the regulatory mandate, while discussions continue.
- Countries such as India are somewhere in between — still in the process of figuring out the best way to regulate cryptos after some policy and regulatory experimentation.
- Hence both statements are correct.
Attention UPSC Students!
To make sure you are not studying endlessly, EduRev has designed UPSC study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in UPSC.
|
Explore Courses for UPSC exam
|
|
Similar UPSC Doubts
Top Courses for UPSCView all
With reference to the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, consider the following statements:1. It seeks to prohibit all private cryptocurrencies in India.2. There is currently no regulation or ban on cryptocurrencies in India.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?
Question Description
With reference to the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, consider the following statements:1. It seeks to prohibit all private cryptocurrencies in India.2. There is currently no regulation or ban on cryptocurrencies in India.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about With reference to the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, consider the following statements:1. It seeks to prohibit all private cryptocurrencies in India.2. There is currently no regulation or ban on cryptocurrencies in India.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, consider the following statements:1. It seeks to prohibit all private cryptocurrencies in India.2. There is currently no regulation or ban on cryptocurrencies in India.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?.
With reference to the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, consider the following statements:1. It seeks to prohibit all private cryptocurrencies in India.2. There is currently no regulation or ban on cryptocurrencies in India.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about With reference to the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, consider the following statements:1. It seeks to prohibit all private cryptocurrencies in India.2. There is currently no regulation or ban on cryptocurrencies in India.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, consider the following statements:1. It seeks to prohibit all private cryptocurrencies in India.2. There is currently no regulation or ban on cryptocurrencies in India.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?.
Solutions for With reference to the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, consider the following statements:1. It seeks to prohibit all private cryptocurrencies in India.2. There is currently no regulation or ban on cryptocurrencies in India.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for UPSC.
Download more important topics, notes, lectures and mock test series for UPSC Exam by signing up for free.
Here you can find the meaning of With reference to the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, consider the following statements:1. It seeks to prohibit all private cryptocurrencies in India.2. There is currently no regulation or ban on cryptocurrencies in India.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
With reference to the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, consider the following statements:1. It seeks to prohibit all private cryptocurrencies in India.2. There is currently no regulation or ban on cryptocurrencies in India.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?, a detailed solution for With reference to the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, consider the following statements:1. It seeks to prohibit all private cryptocurrencies in India.2. There is currently no regulation or ban on cryptocurrencies in India.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? has been provided alongside types of With reference to the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, consider the following statements:1. It seeks to prohibit all private cryptocurrencies in India.2. There is currently no regulation or ban on cryptocurrencies in India.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice With reference to the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, consider the following statements:1. It seeks to prohibit all private cryptocurrencies in India.2. There is currently no regulation or ban on cryptocurrencies in India.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? tests, examples and also practice UPSC tests.
|
|
Explore Courses for UPSC exam
|
|
Suggested Free Tests
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup