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Crypto companies, investors wait with bated breath as India moves to ban ‘private’ tokens
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economictimes.indiatimes.comBitcoin and other leading cryptocurrencies plunged sharply on Indian exchanges after the government listed a bill to ban all “private” tokens. But entrepreneurs and investors are hopeful that things may not turn out to be too bad.
A government bulletin said the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, aimed to prohibit all private cryptocurrencies in India. However, it has allowed certain exceptions to promote the underlying technology of cryptocurrency and its uses.
This clause gives leeway for policymakers to allow certain tokens, some analysts said. This has kept the hopes of crypto entrepreneurs and investors alive.
Read more on economictimes.indiatimes.comAbout this in other media
Expect Robinhood clones to rise if India makes crypto an asset class economictimes.indiatimes.com /3 years ago
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India won't ban private cryptocurrencies, but will regulate them instead: NDTV report markets.businessinsider.com /3 years ago
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