Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
The Daily Hodl
No Result
View All Result

India’s Rumored Blanket Ban on Crypto – Will It Really Happen?

by Hitesh Bhardwaj
June 17, 2020
in HodlX
‏‏‎ ‏‏‎ ‏‏‎ ‏‏‎
ADVERTISEMENT
HodlX Guest Post  Submit Your Post
 

Rumored leaks of the Indian government’s plans to impose a blanket ban on cryptocurrency has left the industry in a state of disbelief and confusion yet again.

The legal state of crypto in India has always been unclear. In March, the Supreme Court ruled against a circular released in 2018 by the Reserve Bank of India  that prevented all regulated national banks from rendering services to exchanges. This was hailed by enthusiasts as an emancipating move which resulted in the industry to flourish.

However, it has merely been a couple of months and some ‘leaked’ reports have surfaced online, moving the industry into a nervous meltdown again. Published on June 12th, an Economic Times article titled “With a law, India plans lasting ban on cryptos” claimed, “A note has been moved by the finance ministry for inter-ministerial consultations.”

This is being interpreted as the government’s way of introducing a law that would effectively impose a complete blanket ban, with anyone involved in trading, mining, holding and exchanging crypto liable for hefty fines of up to millions of dollars or significant jail time.

ADVERTISEMENT

Since then, several interviews and articles with top-brass from leading Indian exchanges have popped up online with their interpretations. Nischal Shetty, the CEO of WazirX, India’s leading Bitcoin exchange, has called these premature assumptions rather speculative.

Two important details have to be understood here before extracting any conclusive claims about what happens further. The first being that there was a lack of credible references in the initial Economic Times story. The other is a lack of access to the so-called “note”, and there are missing government statements so far.

It should be evident that anything besides an official government verdict at this point should be taken with a grain of salt. The monsoon session of Indian parliament begins in July, and that is when it is assumed the matter should ideally be up for debate.

Whatever may be the case, it would be wiser to let the dust settle until July-August.


Hitesh Bhardwaj
IG, Twitter: @Uncommonescapes

 
Check Latest Headlines on HodlX


Follow Us on Twitter Facebook Telegram

Check out the Latest Industry Announcements
 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Nikolay 007

Submit a Press Release

Crypto Livewire – Press Releases

  • Mogul Brings NFTs and DeFi to the Film Industry, Announces Access Pass Sale
    March 5, 2021
  • eToro and DS TECHEETAH Change Face of Sponsorship With Unique Profit Only Deal
    March 3, 2021
  • Unifi Farms Beta Launches on Unifi Protocol to Pioneer No-Stake Farming
    February 26, 2021
  • Bang Bang: Critical Factors Fueling Rise of the Retail Investor
    February 25, 2021
  • How Traders Make Money in Both Bull and Bear Markets on BigoMex
    February 25, 2021
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$48,992.00
$48,992.00
3.12%
Ethereum
$1,589.34
$1,589.34
7.35%
Binance Coin
$229.50
$229.50
2.16%
Polkadot
$34.11
$34.11
2.22%
Cardano
$1.15
$1.15
1.88%
XRP
$0.468344
$0.468344
2.32%
ADVERTISEMENT

Spotlight

  • Max Keiser Says Bitcoin Could Rise 300x, Top Crypto Targeting US Dollar Dominance
    March 1, 2021
  • Five Crypto Projects Are Going Mainstream This Month, Says Altcoin Daily’s Austin Arnold
    March 5, 2021
  • Whale Abruptly Sends $400,000,000 in Bitcoin to Coinbase in Massive Crypto Transfer
    February 27, 2021
  • Bitcoin Could Be at Start of Massive Mainstream Transformation: Citi Report
    March 3, 2021

DON’T MISS A BEAT

Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options

By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.

Check your inbox for confirmation email.

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX • Explore • Futuremash •
Crypto Livewire

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2021 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro

© 2020 The Daily Hodl

×
We use cookies to give you the best online experience possible. Continue browsing if you are happy with that, or see how to manage cookies.