Is Really Cryptocurrency Ban in India - Taxkundali



The government shocked crypto enthusiasts earlier this week by issuing a list of bills that will be introduced in the winter session of Parliament. The list comprises the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 which seeks a ban on all private cryptocurrencies. Crypto specialists say that it is impossible to fully ban cryptocurrencies. But, the government may ban or set limitations on trading in crypto and its use as a means of exchange or payments. Cryptocurrencies exist on the blockchain that has no single entity managing them. 

Is Really Cryptocurrency Ban in India - Taxkundali


According to data from crypto markets, there are about 1.5 crore Indians who have invested in cryptocurrencies holding value Rs 15,000 crore, with more and more people starting to invest. There are 350 startups that operate in the blockchain and crypto space.


What is the Future of Crypto in India


After Indian banned cryptocurrency in 2018, there has been no difference in crypto trading here. Now people are more involved in investing in cryptocurrency. Now India is planning to create its own cryptocurrency, to counter private digital currencies. They believe the Government is finally taking cryptocurrency seriously and is not in a hurry to introduce rigid regulations. The investments in India’s cryptocurrency companies seem to be part of a larger trend of international investments in the country. Now after the new winter sessions of government Indian investors are afraid to invest in crypto. Everyone is panicking and moving out from crypto, right now we have to wait for the Indian government's decision, and don't be panic.

Location: Jaipur, Rajasthan, India

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