Indian Government Panel Not in Favour of Banning Cryptocurrency

As per the latest update from Indian cryptocurrency world, the Indian government is not thinking to ban virtual currency as of now. This is stupendous news for all the Indian crypto community, who were in the state of complete dilemma. We hope this news has given some relief to them for now. Though there is no official statement from the government panel right now.


No Banning Cryptocurrency


According to the ET now tweet, the government panel which was formed for the regulation of cryptocurrency in India is not in favour of banning cryptocurrency. Please check the tweet below.



After this crypto news, crypto investors in India are deliriously happy and according to them this is a positive move by the government and if there could be some law or regulation for cryptocurrency in India, it would be great start together as a country as government can also get tax out of it.

Earlier we have already reported that Indian supreme court has asked Indian cryptocurrency exchanges who filled the plea against RBI, to talk with Reserve bank of India itself and sort the things out.

Now this news has strengthened the hope of all the crypto lovers in India and we think Indian crypto world would see some positive trend in upcoming days. Though right now virtual currencies are bleeding badly and almost all are down. Bitcoin has come down by 53% this year and some investors are believing this as the right time to invest in cryptocurrency ecosystem.

Do let us know what are your thoughts on this news through your comments. We know until and unless any solid rule is made by the Indian government, all the people’s money in Indian cryptocurrency exchanges will be in jeopardy.

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