Crypto industry urges government to reconsider ban
- Crypto firms in India have also experienced a successful year since the lockdowns in March 2020. Trading on crypto exchanges increased manifold, while Bitcoin’s sudden bull run in December brought in more investors as well. The current move poses a threat to the future of this industry
NEW DELHI: The domestic cryptocurrency industry has been urging the Center to reconsider its apparent plan to ban private cryptocurrencies, like Bitcoin, in India. Industry stakeholders said while the government’s intention to create a Central Bank Digital Currency (CBDC) is a welcome move, the definition of what the government considers “private cryptocurrencies" will be important.
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