Rumours surfacing suggesting India could ban crypto once more…

• Rumours came out earlier this week saying that the finance ministry in India could be getting ready to implement another crypto ban. 
• This comes after rumours of a note being circulated by the ministry.

Rumours came out earlier this week saying that the finance ministry in India could be getting ready to implement another crypto ban. This comes after rumours of a note being circulated by the ministry. 

This new note comes just a few months after the Supreme Court in India took down 2018 circular that has been issued by the reserve bank of India initially. This prohibited banks from engaging in crypto payments within the nation. News of this ban has stirred up a storm within the crypto community but many companies in the nation relating to crypto and the industry are still optimistic in the future.

The chief executive officer of a local crypto platform in India Wazirx, Nischal Shetty has highlighted that the two documents pointed out in the report are different. He said that he doesn’t believe there is anything to worry about as of now. However, he does add that there is a slim chance that the government in India would stop such an industry especially in an industry that is booming. Shetty further goes on to say that he believes in the year will follow suit when it comes to other countries such as Japan and the United States and how they have been regulating the industry.

The Unocoin CEO, Sathvik Vishwanath spoke on the matter saying the following:

“Given that the supreme court did hear all aspects of crypto within India and abroad and have taken a stance to support the industry, the old report may be considered outdated. The industry players will be invited to intervene while forming the regulation for crypto from the information that we have.”

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!