Stop exaggerating bitcoin ban in India. No, it's not happening yet.
Safe to say, the truth of the matter is a lot more gray. Yes, Jaitley talked tough on crypto currencies. But no, there was no outright ban — not yet, anyway. The Indian government’s plans for crypto regulation remain unformulated (or at least unstated). It did set up a committee to look into crypto back in April. Which reported in Jaitley in August. But no regulations have been confirmed, leaving rumors to swirl.
One clear takeaway from that is the minister is sounding much more positive about blockchain technology. And his tonal contrast between blockchain and cryptocurrencies is obviously intentional — and therefore interesting.
So yes Jaitley wants to sound like he’s pouring cold water on crypto. But whether that means you should hold or not depends on your own personal threshold for risk.