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The average investment (as per RBI) in crypto assets is 3000 INR or so, the vast majority of which is via crypto exchanges. The earlier bans were indirect (RBI
by captn3m0 5y ago
The average investment (as per RBI) in crypto assets is 3000 INR or so, the vast majority of which is via crypto exchanges.
The earlier bans were indirect (RBI asking Banks asking Payment processors to close down exchange ramps) and didn't stand up to legal scrutiny. A direct ban via legislation ought to work in practice. Exchanges (and other companies offering crypto in India) have already de-risked against this by getting registered in Singapore.
A ban doesn't have to work perfectly, it just has to dissuade enough users.
- Proven 5y ago
- sundarurfriend 5y ago> A direct ban via legislation ought to work in practice. > A ban doesn't have to work perfectly, it just has to dissuade enough users. That much it can probably accomplish, especially given the current level of censorship of the Internet.