Cryptocurrency may not face complete ban in India. Details here

The government had earlier suggested that it will not impose an outright ban on cryptocurrency in India. A report suggests that the government is likely to appoint a panel of experts to explore how virtual coins can be regulated.

Cryptocurrency may not face a complete ban in India as a report indicates that the government is likely to set up a panel of experts to study the possibility of regulating it. Earlier, the government had intended to come out with a bill to ban all kinds of decentralised cryptocurrencies in the country. An Economic Times report, quoting three sources aware of the fresh discussion, suggested that a panel of experts is likely to study the subject and determine whether regulating cryptocurrencies is a better option than a complete ban. Several cryptocurrency exchanges in the country have urged the government to regulate virtual coins rather than completely banning them. In the recent past, the government has also dropped hints that it may not go for a complete ban on cryptocurrencies.