Proposed crypto ban legislation reportedly under review by India’s government

India’s government is reportedly reviewing modalities for banning or regulating cryptocurrencies in the country.

According to Bloomberg Quint, reports indicate that the government is in talks with financial regulators and industry stakeholders to examine the provisions of an earlier proposal that effectively called for a blanket prohibition of crypto in India.

Back in February, several reports out of India stoked fears of a possible crypto ban that has so far failed to materialize. Instead, the emerging narrative out of the country is that the authorities are considering a more nuanced approach to cryptocurrency regulations, with blanker prohibitions out of the question.Read more