India plans to ban cryptocurrency trading for the second time

This is not the first time the country is placing a ban on the crypto industry. Two years ago, the Reserve Bank of India issued a ban on crypto transactions, crippling the already growing industry at the time.

The first ban did not go down well with crypto exchanges as the filed a lawsuit against the finance ministry and won respite in March this year. Since there is no regulatory framework, India’s crypto industry stands the risk of attracting bad players who may take the advantage to dupe investors.

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