Indian Crypto Currency Ban Implications

Private cryptocurrencies will not be allowed and one needs to figure out which are the public cryptocurrencies. Bitcoin and Etherium do fall in public cryptocurrencies as the difference between private and public lies in whether the transaction can be tracked or not. However, do not go by this statement as more clarity needs to emerge in it as likely bill on the Loksabha website states that exceptions can be given. Crypto won’t be a legal tender by any means; it’s absolutely off the cards.

It appears the blockchain concept will be kept alive for RBI cryptocurrency.

We think banning is a correct decision as it can fuel terrorism and narco-terrorism funding. We have been propagating this ban for a long.

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