How can Indian government hope to enforce this. Transactions in Crypto are worldwide and Bitcoin is very much exchangeable with other currencies. This will only add to the Bankers fear of Crypto. An exchange regulation would help avoid Indian Netizens to avoid Scams.
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@sarez whatever they have done, one thing seems certain. BTC price didn't get affected even a bit on international exchanges but because of this news BTC price has fallen drastically only on Indian exchanges, may be that was the whole idea.