India Has Announced A Crypto Ban. -monnaie The Indian government will submit legislation to prohibit the use of private cryptocurrencies in...

 India Has Announced A Crypto Ban. -monnaie

The Indian government will submit legislation to prohibit the use of private cryptocurrencies in exchange for the establishment of a digital currency system backed by the central bankThe new measure "seeks to ban all private cryptocurrencies in India," according to the Lok Sabha, and comes after Prime Minister Narendra Modi warned last week that Bitcoin poses a risk to developing young people and has the potential to "destroy our youth."

According to Chainalysis research, India's crypto sector has grown more than 600 percent since the country's Supreme Court overturned a previous ban in April last year.

In Asia, there are between 15 and 100 million individuals.'

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