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India May Block IP Addresses of Crypto Exchanges: Report
The claim comes via a source of an Indian business magazine.
India’s digital asset investors face more uncertainty amid reports the government is mulling a block on internet protocol (IP) addresses of exchanges and companies that trade cryptocurrencies.
STORY CONTINUES BELOW
- The claim comes via a report Monday from local magazine Business Today, citing a source with knowledge of the matter, but cannot be verified.
- Previously, India has attempted to block IP addresses of adult sites and some apps, according to Business Today, but with limited success due to the use of virtual private networks (VPN).
- India's government has said it plans to introduce a bill in the current session of parliament that would ban “private cryptocurrencies,” though its scope is far from clear.
- There have been mixed signals regarding the planned legislation, with one government official stating India would completely ban cryptocurrency use, and another suggesting that will not be the case.
- Minister of Finance and Corporate Affairs Nirmala Sitharaman said earlier this month, “From our side, we are very clear that we are not shutting all options. We will allow certain windows for people to do experiments on the blockchain, bitcoins or cryptocurrency.”
- In February, Indian cryptocurrency exchanges launched the #IndiaWantsBitcoin campaign, an initiative to convince parliament to regulate cryptocurrencies rather than impose an outright ban.
Read more: India’s Central Bank Chief Airs ‘Major Concerns’ About Crypto Risks
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
