No, India has NOT banned cryptocurrencies

[etin06]

That news actually drove price of crypto currency down. I believe the ways are the one spreading the news so that people can dump and buy from week hands.

[tsaroz]

I've heard another part of the story. A huge amount of money from high level officials, politicians and billionaire from india are invested on cryptos white as well as black. And they won't let the ban take place. Not until they cash out.

[sourish]

There is so much confusion and uncertainty around cryptos right now, that any news item sends people into a frenzy, without taking time out to verify the facts to settle their fears.

[jdkfy]

The Indian startup Cali Digital Ecosystems filed a complaint against the decision of the Central Bank of India to prohibit banks from providing encrypted asset services. The company plans to launch its own cryptocurrency trading platform, CoinRecoil.



On Tuesday, Kali's digital ecosystem submitted a complaint to Delhi's High Court of Justice against India’s Central Bank, Ministry of Finance, and GST Council to seek court support. “The central bank is banned from refusing to provide cryptocurrencies. Service decision." The company said that the central bank's ban is "arbitrary and unconstitutional."

The company initially planned to launch CoinRecoil, a cryptocurrency exchange, in August 2018, and stated in the petition that it had "had invested heavily in this area." However, due to restrictions on bank services by the Indian Central Bank earlier this month, the exchange will not be able to operate.