Last year a cryptocurrency draft bill was submitted to the finance ministry by the Indian government. The bill was named “Banning of Cryptocurrency and Regulation of Official Digital Currency Bill, 2019,” and was drafted by an inter-ministerial committee headed by former Finance and Department of Economic Affairs (DEA) Secretary Subhash Chandra Garg. The Indian government has said that the inter-ministerial committee’s cryptocurrency bill is “awaiting approval of the government.”