The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021,to prohibit all private cryptocurrencies in India, with certain exceptions to promote the underlying technology and its uses, is likely to be placed in winter session of the parliament. The RBI is examining the feasibility of launching its own central bank digital currency but is yet to decide on the possible date for launching a pilot project. There is no explicit legalisation of cryptocurrencies in India but a verdict of the Supreme Court (in the Internet and Mobile Association of India V. Reserve Bank of India case) declared an outright ban on cryptocurrencies but raised the possibility of RBI’s jurisdiction for all forms of virtual currencies. Crypto technology-powered Decentralised Digital Assets hold a market cap of over $3 Trillion. The future promise of digital assets has attracted lots of retail attention, but institutional investors too.