Govt mulls blocking IP addresses of cryptocurrency exchanges: Report

The government may block IP addresses of cryptocurrency exchanges as part of a bill to ban trading in decentralised digital currencies. Here is all you need to know:

At a time when the future of cryptocurrency trade in India remains hazy, the government may consider blocking internet protocol (IP) addresses of cryptocurrency exchanges or companies dealing in cryptocurrencies. The same was confirmed by a source quoted in a Business Standard newspaper report. The development is a part of the government’s plan to introduce a bill to ban private cryptocurrencies and introduce India’s own digital currency. While the government has proposed to promote technologies like blockchain, it seems concerned about individuals holding decentralised digital currencies like Bitcoin and Ethereum. Read | India is set to ban Bitcoin, Dogecoin and other crypto money with move that targets miners and traders