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As many Asian tigers are embracing and regulating the use of blockchain technology and Bitcoin, India is planning to create a new law prohibiting cryptocurrency trading.

The Russian Ministry of Economics criticized the recent law on digital assets adopted by the State Duma. It practically bans the use of cryptocurrency within the country, however, such an attitude might cause Russia huge losses.

After announcing an official ban on cryptocurrency use in 2014, the Kyrgyz Republic seems to be reconsidering its legal frameworks around crypto trading and mining.

No one would call the life of the cryptocurrency business in India easy. First, they had to deal with a ban from the country’s Reserve Bank, and then they were hit by the COVID-19 pandemic. However, Indian exchanges manage to withstand everything. Especially after the ban was lifted by the Supreme Court.

Despite India's Supreme Court overturning a cryptocurrency ban imposed by the Reserve Bank of India (RBI), crypto businesses still face difficulties due to regulatory uncertainty and scrutiny.

For the past few years, YouTube has had a policy of banning and even deleting channels promoting, analyzing, or talking about bitcoin and other cryptocurrencies. While the platform itself states they are trying to protect their users against scams, some community members say it much resembles ordinary censorship.

Investment into the Indian-wide cryptocurrency and blockchain markets comes from every corner of the globe after lifting the ban on cryptocurrency imposed by the Reserve Bank of India

Recently, the Supreme Court of India nullified the decision by the Reserve Bank of India (RBI) putting a total ban on all virtual currency related dealings, according to reliable news outlet MENAFN.

The Reserve Bank of India recently announced cryptocurrency is not banned in the country but advised citizens not to rely on it. At the same time, the country seems to be much more friendly towards blockchain, launching a hub in Bengaluru.