31+ Why Cryptocurrency Is Banned In India Gif. India has become the second country to outrightly ban bitcoin and other cryptocurrencies. India will propose a law banning cryptocurrencies, fining anyone trading in the country or even holding such digital assets, a senior government official told reuters.
The reason the indian government forbids bitcoin, bitcoin is a ponzi well the main reason behind bitcoin being banned in india is that the transactions are anonymous and they think that it can be used by terrorists to fund their operations. This time, however, a ban is even less likely to succeed — and the consequences for india's economy could be more dire. A bill was passed banning of cryptocurrency and regulation of official digital currency bill, 2019.
Indian exchanges launch campaign to avert crypto ban.
It is estimated by industry experts. Check why is cryptocurrency banned in india? I dont know why india is not legalizing the cryptocurrency ? Use cases for cryptos in india should be considered to formulate a cohesive policy.