Investors and entrepreneurs believe that a ban would face implementation and constitutional hurdles, and that India might follow the route taken by other Asian countries, which initially banned cryptocurrency trades but reversed their stance soon after.
WazirX, a Mumbai-based cryptocurrency exchange that was acquired by Binance, a large Mauritius-based exchange, in November 2019, saw trading volumes go up by more than 50 percent in the last four to five months to hit $60 to 70 million a month, says co-founder and CEO Nishchal Shetty.
Disclaimer: Cryptocurrency is not a legal tender and is currently unregulated. Kindly ensure that you undertake sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. The information provided in this section doesn't represent any investment advice or WazirX's official position. WazirX reserves the right in its sole discretion to amend or change this blog post at any time and for any reasons without prior notice.
