India Is Not Banning Cryptocurrency, Here's What It Is Doing Instead..What you think about this ?

India will soon have its own rules on bitcoin. The responsibilities of various regulators have been determined, a high-ranking official revealed. Relevant institutions are currently finalizing a comprehensive government policy on cryptocurrencies. Representatives of the Indian crypto community, meanwhile, have quashed fears of an imminent ban.

It has been a tumultuous week for cryptocurrencies across the globe. While China has blocked crypto exchanges, U.S. banks are steadily declining cryptocurrency purchases. Ajeet Khurana, head of the Blockchain and Cryptocurrency Committee (BACC) of Internet and Mobile Association of India (IAMAI) is one among the many people in India working towards spreading awareness on cryptocurrency in India.

We acknowledge that the issue of Bitcoin and cryptocurrency regulation has been a persistent and painful problem due to its decentralized nature. Also, we empathize with the fact that government has done this to protect Indian consumers who are rather ignorant and often lack sufficient education regarding many obvious crypto-related MLM scams. The classic example is one of Amit Bhardwaj who scammed Indians as well as other people around the world.