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Indian Govt Reconsiders Crypto Ban After Facing Global Backlash

There’s a celebration in the crypto streets as India finally decides to tone down its position that fueled fears of a complete crypto ban. Crypto investors in the region have welcomed the news that a new regulatory framework to facilitate crypto exchanges is currently in the works.

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Revealing the news on the country’s business channel CNBC-TV18, Indian Finance Minister Nirmala Sitharaman stated that the government will try to make sure that there’s a suitable window “for all types of experiments in the crypto world”.

As mainstream firms and organizations flock towards the crypto space, the Indian government is gradually shifting its focus towards the unmissable global trend by formulating a regulatory framework for cryptocurrencies instead of an outright ban.


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In January, the Modi government had decided to ban all crypto exchanges, including peer-to-peer (p2p) transactions in the wake of economic uncertainty and protests against the government’s mismatched treatment of its people.

Although India is a bit late to join the party, a window for avoiding marginal – if not complete – economic collapse still exists.

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