Cryptocurrency enthusiasts in India, who have been concerned about a potential comprehensive ban, may find some relief.

The Indian government plans to propose a bill in the upcoming winter session of Parliament that, if enacted, would only outlaw 'private' cryptocurrencies.

This means that investors in public blockchain-based cryptocurrencies like Bitcoin and Ethereum can relax, as these differ significantly from 'private' cryptocurrencies such as Monero and Dash.

The exact definition of 'private' cryptocurrency has not been specified by the government, but it's expected that public blockchain-based tokens won't be banned because their transactions are traceable, despite offering some anonymity.

Private cryptocurrencies, in contrast, hide transaction details to protect user privacy.

While Bitcoin provides anonymity, Monero ensures privacy, making it a private token.

Cryptocurrencies inherently lack intrinsic value or liquidity, making an outright ban challenging.

They could be considered an asset, commodity, currency, or security.

Millions globally could theoretically own such digital currencies, which are essentially code strings that can't be 'banned', and agree to use them as a medium of exchange, thus giving them value.

Transferring cryptocurrencies is akin to file sharing, so a regulatory ban might not stop