India's crypto ban : what happens To your money / invesments?
According to various estimations, there are 15 million to 20 million crypto investors in India, with total crypto assets of roughly Rs 40,000 crore ($5.39 billion).
If the Centre decides to ban crypto, investors will have two options: sell their holdings or keep their crypto assets in wallets provided by offshore exchanges.
Moving crypto assets to self-custody wallets — digital devices that act like micro SD cards — would be a wise alternative for people
These self-custody wallets -- like Ledger, Trezor, SafePal and BitLox -- store the investors’ private Bitcoin key or keys.
Government might also consider giving Investors a 3 to 6 months time to sell their assets in case of a ban.
Cryptocurrencies are simply pieces of computer code that can’t be banned. Even if banned, people can still share them with each other.
However, a regulatory ban would make it difficult for mainstream users to trade in crypto as most investors in India trade on crypto exchanges
Another major reason why India is unlikely to completely ban crypto is the sheer number of investors in the country. Almost 7 million people in India hold $1 billion worth of cryptos.
We can see the impact of India over the crypto world when Bitcoin, which was around $60,000, declined to $55,460.96 and all major digital currencies saw a fall of around 15 %
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