Indian crypto exchanges may be forced by the government of India to delist the majority of the crypto assets, to ensure the protection of the investors’ interest.
At present, the crypto regulation bill of India is under huge discussion and the main reason for the discussion about the upcoming bill of India are unconfirmed reports. In the last few days, many sources claimed that they grabbed information from international sources and all information are hinting together that India is going to put a very high-level restriction on crypto-related services to ensure the protection of the investors.
An anonymous source citing this matter told us that India’s crypto bill has strict guidelines to force all the local crypto exchanges of India to delist the majority of crypto assets. And in that situation, only limited numbers of 10-20 crypto assets will be allowed.
However, here we can’t blindly accept this information but there are many facts, which are forcing us to believe this source because the definition of “Private cryptocurrencies’ ‘ is still unavailable by the Government of India in the public domain.
So here we can say that all the Indians should be ready to face this decision in advance. However, the crypto bill of India is still in the private domain and the crypto community of India needed to wait to see the actual framework of the crypto bill, which is on the table of Cabinet members of India.
Time for Indian crypto investors
Naimish, the founder of crypto crunch, wrote on Twitter that they got information through internal sources that India will give 16 days of time frame to all the crypto Investors of India to shift all the funds to local centralized crypto exchanges.
However, this information is unconfirmed but the Indian crypto community doesn’t have the option because the crypto bill is in the private domain. Besides this, there are other sources, which claimed that the time to transfer all the crypto firms will be around 60 days.