Indian Government Considering Banning Bitcoin Yet Again

There’s more uncertainty spilling out of India as the government is again considering a ban on trading Bitcoin and cryptocurrencies.

It’s not the first time ‘banning’ rumours have been abound in India and many don’t believe they can ban Bitcoin, but it makes buying Bitcoin in India an uneasy experience.

As always there are conflicting reports coming out of India. There is still no crypto regulation at all in India, and local lawyer Mohammed Danish claims the government’s dilly dallying has even increased curiosity in Bitcoin and other crytpocurrencies.

‘The Supreme court judgment has helped big time in increasing the curiosity around crypto,’ said Danish. ‘Even in legal fraternity I see lot of people taking huge interest. But this curiosity is of course limited to a certain age group.’

This curiosity among the legal fraternity correlates with data coming from, which claims among all countries India is now the second biggest increase of Bitcoin wallet creations since the start of June.

Will India Ban Bitcoin?

India’s cryptocurrency bill was back in the limelight last week after Moneycontrol reported that the government was reconsidering an outright ban on trading and buying Bitcoin and other cryptocurrencies.

An anonymous government official apparently spoke with Moneycontrol, claiming that the government had been holding further talks with the Reserve Bank of India (RBI) about banning Bitcoin and cryptocurrency trading in India. Read More

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