India seeks crypto ban as Spanish regulator warns soccer star Iniesta over Binance plug

November 26, 2021 Blockchain Industry Updates

The Indian government has tabled a parliamentary bill to adopt a wide-ranging ban of cryptocurrencies amid plans to launch its own digital currency.

While Spanish market regulator has warned National Securities Market Commission (CNMV), has warned soccer star Andres Iniesta on 24 November over his social media promotion of crypto platform Binance.

In reaction to India’s proposed crypto ban, Laith Khalaf, head of investment analysis, AJ Bell said: “India’s plan to ban cryptocurrencies has not wrought the same damage on the Bitcoin price as China’s summer crackdown, but it nonetheless marks yet another stumbling block in crypto’s advancement as an economic force in the real world.

The wording of the Indian government’s announcement suggests there will be some exceptions to the ban in order to promote the underlying blockchain technology, though it’s not presently clear what those might be.”
“The wording of the Indian government’s announcement suggests there will be some exceptions to the ban in order to promote the underlying blockchain technology, though it’s not presently clear what those might be.

“There may be some question of how the government can prohibit the trading of cryptocurrency on private computers across international exchanges, but a ban would at least prevent advertising and marketing activities, which should limit activity.”

He added: “Governments across the globe have two principal concerns around the rise of cryptocurrency, namely that it makes it easier for criminals to launder money, and secondly that it could have nasty implications for consumers if the price bubble eventually bursts.