Legal experts say that it is too late to ban cryptocurrency in India despite calls for a complete crypto ban by the central bank, the Reserve Bank of India (RBI). bitcoin
While the government has not made an official announcement whether it will ban or regulate crypto, legal expertsThey explained that the government’s cryptocurrency legislation will have to be balanced. This will not only ensure that investors will not be hurt but also prevent crypto from growing uncontrollably, which could threaten India’s foreign exchange reserves and disrupt its economy.The government is viewing cryptocurrencies as investment instruments and plans to regulate them.
Narayanan also explained that it would be challenging for regulators to stop Indians from sending crypto payments overseas, elaborating:
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