Will India Ban Cryptocurrencies? Experts Weigh In On Speculations
India, Sept. 16 -- Last year, the Indian government's suspicion and the resultant hostility towards cryptocurrencies found expression in the draft bill, "Banning of Cryptocurrency and Regulation of Official Digital Currency Bill 2019".
Governments have long been suspicious about cryptocurrencies, owing primarily to their decentralised nature and the lack of an overseer in a central bank or any other such authority. It is felt that the decentralised and anonymous nature of cryptocurrencies could lead to them being used for terror financing and other anti-social activities. These fears have been confirmed by the Financial Action Task Force (FATF), an inter-governmental organisation which develops policies to combat money laundering.
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