Experts Doubt Possible Ban on Crypto Trading in India

News of a possible ban on cryptocurrency trading in India unsettled local and global communities. The publication Cointelegraph spoke to several industry representatives who questioned the speed with which a law might be enacted.

CoinSwitch CEO Ashish Singhal stated the list of bills for discussion in the current session of the Indian Parliament. The draft bill banning crypto trading was not among them.

Founder of Crebaco Research Siddharth Sogani does not see a reason for alarm. In his view, the bill will have a long road ahead. He described the latest reports as ‘clickbait’.

Founder of the WazirX exchange, Nischal Shetty, stated that the document is still with the Ministry of Finance.

“It’s still too early for a crypto trading bill to be presented in Parliament,” says Shetty.

As Bloomberg, citing a source reported that the draft law to ban crypto trading is under consideration by the Indian Council of Ministers.

MP Subramanian Swami said that he knows nothing about plans to ban crypto trading. In his view, such a decision “would be madness”.

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