There has been a lot of noise over Finance Minister Nirmala Sitaraman’s answer to a question recently in Parliament about the Indian government’s stance on cryptocurrencies. Some headlines even went as far as to suggest that there was a fresh plan to ban crypto in India.
As per my reading, the only thing the Finance Minister’s answer reveals is that while India’s central bank wants a ban on cryptocurrencies, any legislation for the “regulation or for banning crypto” can be effective only after significant international collaboration.
