India bans all crypto-currencies!

The Government of India has announced the Financial reform and regulation package that it has been working on for a long time. Accordingly, many crypto-currencies, including Bitcoin and Ethereum, will no longer be available across the country. The government cited the fact that young people could be led astray as the justification for the decision.

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India will only allow for a few cryptocurrencies

Publishing a statement in early 2021, the Government of India stated that they have been working on a new bill for some time and private cryptocurrencies He stated that they no longer wanted it to be used.

through India’s own central bank a new official cryptocurrency The government, which stated that it will create a bill, seems determined to put the bill into reality. People who use the banned crypto-currencies in the new period up to 15 years imprisonment is foreseen.

In an updated statement this month, Indian President Narendra Modi stated that all democratic societies should take a common stance on cryptocurrencies.

Stating that crypto-currencies should be prevented from going into the wrong widths and ruining the future of young people, Modi said, Reserve Bank of India He stated that they carried out a feverish work through According to Reuters-based reports, India has a population of between 15 and 20 million cryptocurrency investors. Again, according to the same source, it is said that there is a crypto-currency accumulation of around 4.77 million Euros nationwide.


While the Indian parliament has yet to give further details on the matter, the bill that will be considered in the next session. so that the crypto-currency exchange does not completely disappear Exceptional circumstances may be allowed. So what do you guys think about this attitude of the Government of India? Do not forget to share your views with us in the comments section.

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