The Indian crypto community is undeterred by the widespread rumor that its government is discussing a bill which could ban some cryptocurrencies. Local crypto exchanges have revealed to news.Bitcoin.com that their trading volumes have been increasing despite this report. Meanwhile, experts have weighed in on this possible bill, and another crypto exchange may be shutting down due to the banking restriction by the central bank.
Also read: Indian Supreme Court Postpones Crypto Case at Government’s Request
The media recently reported that the Indian government has kicked off an interministerial discussion on a bill entitled “Banning of Cryptocurrencies and Regulation of Official Digital Currencies Bill 2019.” The news spread like wildfire as many media outlets covered the story; some are calling it FUD while others are treating it as a fact.
Indian crypto traders seem undeterred by this news. The CEO of local crypto exchange Wazirx, Nischal Shetty, shared with news.Bitcoin.com: