No crypto ban in India: Finance Minister predicts “very calibrated” stance

[Tnoy30]

No blanket ban on the horizon, with an open "window" for experimentation in India says Nirmala Sitharaman.
Yet another “crypto ban” turns out to be temporary FUD.

In an interview with CNBC this morning, Indian Finance Minister Nirmala Sitharaman said that reports of a blanket ban on cryptocurrencies are overstated. While negotiations are ongoing, she said she expects the end result to be more tempered:

“Yes, a lot of negotiations, discussions are happening, with Reserve Bank,” said Sitharaman. “Obviously the Reserve Bank will be taking a quorum on how, what kind of unofficial currency, cryptocurrency will have to be planned, and how it has to be regulated. But also, we want to make sure that there’s a window available for all kinds of experiments which will have to take place in the crypto world.”
Reference: https://cointelegraph.com/news/no-crypto-ban-in-india-finance-minister-predicts-very-calibrated-stance

[Freemind]

It seems that the government of India has reconsidered and has not ended up banning cryptocurrencies. What I do not like at all is that "experimentation", I hope they are not going to put a lot of tax burden as an excuse to be able to use cryptocurrencies freely in the country, although I suppose it is still too early to talk about that. Without a doubt, it is a positive step that they have just taken.

[Fenix]

Well, it's very good that the rumors about a complete ban on cryptocurrency in India turned out to be only rumors. It is also possible that the Indian parliament and government simply changed their minds about the attitude towards cryptocurrency, but in any case, this is good news for participants in this market. It is also possible that such changes have occurred under the influence of recent events, when such large companies as Tesla began to invest in bitcoin. At a time when the world began to recognize cryptocurrency, the Indian government did not dare to turn away from it.