Crypto move from India: Not banned, regulation coming

Şükriye Akdeniz

Aug 18, 2021

Cabinet of Union of India prepares to pass regulation bill to be introduced to cryptocurrencies

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Nirmala Sitharaman, Minister of Finance, explained the developments regarding regulation as the crypto struggle continues in India:
“Cabinet memos on cryptocurrency law are ready. I'm waiting for the cabinet to sort this out."
India's struggle with the cryptocurrency market has been going on for several years. The country began blocking its access to all crypto and derivatives transactions, standard services and tools in 2018.
Two years later, a decision was made that this measure was unconstitutional, and thus the ban was annulled. Last year, several sources claimed that India is potentially considering a complete ban on cryptocurrency activities.

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