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Would a crypto ban in India not affect the traders there?

May 13, 2019 | Cryptocurrency

Nischal Shetty, the CEO of Indian digital asset exchange WazirX, stated that the recent rumors about a cryptocurrency have not had any significant impact on trading volumes in the country, as per latest cryptocurrency news source. He asserted that unless the finance department made an official statement, local cryptocurrency traders would not get affected.

In an official statement, Shetty indicated that WazirX recorded its hightest trading volume during April 2019, since they processed over $11 million in trades. WazirX is an India based cryptocurrency exchange.

Shetty further revealed that news regarding a potential crypto ban had surfaced in October 2018 but investors in India were not affected by this news. Being decentralized, it is difficult for any government ban cryptocurrencies altogether as they do not control them. Merely fiat to crypto conversions can be controlled to a degree.

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