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Cryptocurrency Ban In India Is On The Agenda Once Again

On Friday, The Economic Times of India reported that the nation’s Finance Ministry has sent a note calling for extra inter-ministerial consultation on a potential cryptocurrency ban. The Supreme Court lifted the Reserve Bank of India’s 2018 ban, which seriously constrained banking facilities for cryptocurrency businesses. Following the inter-ministerial consultations, India’s cabinet will probably discuss the issue before moving the matter to the floor of the parliament. A past inter-ministerial committee recommended a blanket ban, with related fines and jail sentences for individuals participating in cryptocurrency transactions. While the news has purportedly created a ruckus, it’s imperative to take note…

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