Finance Minister Nirmala Sitharaman said that the Indian government is keeping a close eye on crypto ads but is not currently focusing on banning crypto ads.
The minister also stated that the crypto law to be submitted is based on input from the 2019 draft bill and other recommendations.
The minister did not give a clear answer to questions about whether to ban crypto and said that the bill to be presented by lawmakers should be awaited.
Various crypto-related rumors continue to circulate in India. While it was clearly stated that cryptos would not be banned in the first place, it was later claimed that private cryptos could be banned to pave the way for the CBDC.