In fact, in the first meeting of the committee, which was held on November 27, 2017, the committee had broadly agreed that "the banning option is difficult to implement"
Panel headed by finance secretary Subhash Chandra Garg recommends imprisonment for up to 10 years for anyone who mines, generates, holds, sells, transfers or issues cryptocurrency.
Libra will also face additional concerns from international regulators and lawmakers, which could further delay its progress
Facebook's new currency plan under scrutiny in Congress
Such a sweeping proposal would likely spark opposition from Republican members of the house who are keen on innovation, and would likely struggle to gather enough votes to pass the lower chamber
Libra, which is widely regarded as a challenger to dominant global player Bitcoin, is expected to launch in the first half of 2020
The news comes after Facebook Inc. earlier this month unveiled plans to create a cryptocurrency it expects will one day trade much like the dollar
The key to getting the consumers and merchants to use the digital currency will be incentives
The digital currency, called Libra, is scheduled to launch sometime in the next six to 12 months
Litecoin, which has gained more than 330% since the beginning of the year, is outpacing all its crypto peers
Some cryptocurrency fraudsters appeal to people's greed, promising big returns
Bitcoin experienced astonishing growth in 2017 to peak at a record $19,500 by the end of that year
US crypto broker-dealer Voyager Digital on Feb 11 achieved a 'backdoor' listing on Toronto's Venture Exchange after it bought control of mineral exploration firm UC Resources
Gerald Cotten died aged 30 from complications with Crohn's disease while volunteering at an orphanage in India, according to the Facebook page of Quadriga CX, which announced his death on January 14
There is a misunderstanding that crypto-assets like Bitcoins are illegal in India
But Facebook needs to win people's trust first
Goldman Sachs, Morgan Stanley and many more built it. But they didn't come.
The total market capitalisation of crypto currencies is currently estimated at approximately $120 billion compared to over $800 billion at its peak in January
Keeping crypto assets secure involves storing a 64 character alphanumeric private key. If the key is lost, the assets are effectively lost too
If the vote of no confidence passed, most Marshallese expected the opposing senators to repeal the cryptocurrency law