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India has severally accused crypto of promoting unlawful activities virtually.
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India introduced a law against crypto in 2018, but the sc ruled it out a year ago.
Trust me i know a lot of stuff!😉. The new report of a possible crypto ban in india contradicted india's finance minister nirmala sitharaman's thoughts on the crypto industry. The landmark judgment of the supreme court, earlier in 2020, lifted the ban on buying and selling of crypto assets. Some of the big names are coinmarketcap, coingecko, blockfolio, crypto app, etc. India cannot afford to lose money and talent. Indian banks are notifying customers against crypto trading following an outdated law. Impact of crypto ban on indian economy the crypto ecosystem has been doing news rounds ever since the rbi proposed a ban on using or trading or holding crypto currency in 2018. A clear example of the failed crypto ban was the one brought to the fore in march, limiting mining, exploration, and crypto transactions. If the indian government ban cryptocurrency partially in india then we have fair chances to trade these cryptocurrencies using various methods. Menon is among those who does not think a blanket ban is possible. Our clients are worried about the proposed legislation. This has again legitimized crypto trading in the country. Shunning this industry will mean massive job losses and brain drain.
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The statement has given hope to the indian crypto community.
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