India Won’t Ban Crypto Again, Rumors are “Overblown”

Key Takeaways

  • Rumors about another Indian ban on cryptocurrencies began circulating last week

  • The news caused a stir in the country, which saw its latest crypto ban overturned in April

  • However, Indian crypto companies believe this is highly unlikely and have been introducing various educational efforts to boost adoption

A new ban on Bitcoin ownership in India is unlikely, say companies working in the country’s crypto industry. The rumors about a new ban began last week after a news report cited an unnamed government official, who said an anti-crypto proposal was in the works.

Crypto Ban Rumors are “Overblown”

After the Indian Supreme Court overturned a two-year-old ban preventing banks from providing services to companies that deal in cryptocurrencies, the industry began to gear up for an influx of new customers. With over 1.3 billion people, India is believed to be the next driving force for the industry. Read More...

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