India’s Rumored Crypto Ban May Be Overblown, Say Industry Pros

[Paglamon]

Rumors that India might be considering a new ban on crypto may be premature, exchange founders and startup CEOs working in the sector believe.

Indian news site The Economic Times created a stir Friday by suggesting that lawmakers in India, where the Supreme Court only overturned a punitive banking ban from the Reserve Bank of India (RBI) four months ago, were planning on slapping a new ban on crypto companies.

The story, titled “With a law, India plans lasting ban on crypto,” cited one unnamed “senior government official” who told The Economic Times that, “A note [presumably on crypto] has been moved (by the finance ministry) for inter-ministerial consultations.”

The article doesn’t provide any information on what the note could be but says that it was spurred on by the Supreme Court ruling, which allowed crypto exchanges to finally access banking services after nearly two years stuck in the wilderness.
Source: https://www.coindesk.com/india-lawmakers-figuring-crypto-regulation