What will be the effects of a ban on cryptocurrencies

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What will be the effects of a ban on cryptocurrencies?

Asked On2022-01-05 04:57:39 by:Raj-Gupta

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The existing traders and investors will have to book losses, opening the floodgates for huge financial claims and disputes. All of this, will eventually lead to legal recourse with numerous court cases because of the huge investments already made, with a couple of court rulings already having been passed on the subject matter,” said Professor Padmanabha Ramanujam, Dean at IFIM Law School and a cryptocurrency expert.

But the cryptocurrencies are global and will not be affected by any particular country taking a decision. Shivam Thakral, CEO of BuyUcoin, a homegrown cryptocurrency exchange, told indianexpress.com, that the global crypto market is “…too big to be banned and regulators are expected to respect people’s choices allowing them to choose their investment products.” India’s crypto investments have crossed the $10 billion mark which reflects the mood of institutional and retail investors.

Any ban on cryptocurrency trading or holding would be a massive setback to the ecosystem of startups that have bloomed in India recently.

Answerd on:2022-01-07 Answerd By:Akhil-Dev-D

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What will be the effects of a ban on cryptocurrencies?

What will be the effects of a ban on cryptocurrencies?

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