The legal procedure on cryptocurrency trading in India hit another roadblock after the Indian Ministry of Finance has proposed another cryptocurrency trading ban. This is yet another proof that not everybody in the Indian government agrees with crypto trading.
This is coming shortly after the Supreme Court decided to lift the ban of cryptocurrency in India around three months ago. The central bank of India (RBI) recently made a public statement that commercial banks in India were allowed to do business with crypto startups.
However, it looks like the Indian Ministry of Finance disagrees with this decision. It has proposed another ban which will be sent to the parliament. If the parliament agrees with the Indian Ministry of Finance, the ban lift will be overturned - and crypto trading in India would have to face another uncertainty.
Three months ago, many crypto companies warmly welcomed the Supreme Court’s decision to lift the crypto trading ban. Companies like Remitano, Binance and OKEx have tapped into the Indian market. For example, Binance has cooperated with WazirX to get some Indian market shares. It’s highly possible for international companies to pull off from the Indian market if crypto trading gets banned again in the country.
Source: CoinTelegraph
