Crypto trading garnered everyone’s attention when Bitcoin kept rising upto $20k and there was a huge FOMO.
During that time, there were a lot of Get Rich Quickly scams around Crypto trading.
Coupled with 24x7 online trading, a lot of people were losing a lot of money. Taxation (for those who made money) around Crypto weren’t clear either.
An exchange ran away with the money. There was also the money laundering aspect. The Govt also wanted to curtail cash usage (Demonetisation happened) and track the transaction trails.
Not saying if they are right but some of these reasons were triggers for the original ban by RBI.
Casinos are banned in majority of Indian land and i’m wondering if the reasons are the same. Would be interested to know what the Supreme Court thinks about that in the current world.
During that time, there were a lot of Get Rich Quickly scams around Crypto trading. Coupled with 24x7 online trading, a lot of people were losing a lot of money. Taxation (for those who made money) around Crypto weren’t clear either.
An exchange ran away with the money. There was also the money laundering aspect. The Govt also wanted to curtail cash usage (Demonetisation happened) and track the transaction trails.
Not saying if they are right but some of these reasons were triggers for the original ban by RBI.
Casinos are banned in majority of Indian land and i’m wondering if the reasons are the same. Would be interested to know what the Supreme Court thinks about that in the current world.