RATE Group | India’s Calling For Blanket Cryptocurrency Ban
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India’s Calling For Blanket Cryptocurrency Ban

28 Jul India’s Calling For Blanket Cryptocurrency Ban

Posted at 00:45h in Cryptocurrency News by

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At a time a when Russia and Iran are closer than ever to regulate cryptocurrencies as will help them circumvent the sanctions imposed by EU and the US, India is closer to a blanket ban on cryptocurrencies.

The Inter-Ministerial Committee (IMC) constituted in November 2017 has submitted its report to the finance ministry and has recommended a complete ban on crypto activities in the country.

Many of the crypto traders and exchange founders are of the firm view that if enacted this Banning of Cryptocurrency and Regulation of Official Digital Currency Bill 2019 will be challenged in the Court as it violates one’s fundamental right to trade. However, speaking to Inc42, NS Nappinai a Supreme Court and Bombay High Court lawyer said, “The right to pursue any profession, trade or business is…

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