Is India Banning Cryptocurrency? How Can It Do That?

Is India Banning Cryptocurrency? How Can It Do That?

India has been one of the fastest-growing markets for cryptocurrency trading, even though the ability to trade Bitcoin and its peers freely and anonymously undermines the country’s limits on the convertibility of its currency, the rupee. The central bank has been pushing for an official digital currency while voicing its concerns over the private crypto market. In February, the government decided to formally recognize crypto trading, while also discouraging it by imposing a stiff levy on transac