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In India, an effort to ban cryptocurrencies has reportedly been revived. What comes next?
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Quick Take
- The Indian government is reportedly planning to bring a law to ban cryptocurrencies
- The country’s finance ministry is said to be seeking inter-ministerial consultations on a “note” reportedly related to a crypto ban
- Legal and regulatory experts told The Block that if discussions happen, the process would be long and take time
- Local crypto exchange operators appear to be less concerned about the news and are confident that the government would consult with relevant stakeholders prior to reaching a decision
The Indian government is reportedly planning to bring a law to ban cryptocurrencies. Legal and regulatory experts told The Block that if discussions were to proceed, it would result in months of deliberation.
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