New Indian law will allow only a few cryptocurrencies, government says

FILE PHOTO: Representations of cryptocurrencies Bitcoin, Ethereum, DogeCoin, Ripple, Litecoin are placed on PC motherboard in this illustration taken, June 29, 2021. REUTERS/Dado Ruvic/Illustration

MUMBAI (Reuters) - India is looking to bar all but a few private cryptocurrencies when it introduces a cryptocurrency and regulation bill in the winter session of the parliament, the government said late on Tuesday.

The government will allow only certain cryptocurrencies to promote the underlying technology and its uses, it said, according to a legislative agenda for the winter session.