Government of India Announces Crypto Awareness Campaign

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The Indian government is starting a campaign to raise investor knowledge of the hazards associated with investing in cryptocurrencies while educating them on their legality in the nation.

The campaign to raise awareness of cryptocurrencies in India

According to reports, the Indian government is starting a groundbreaking awareness campaign for cryptocurrencies.

The Ministry of Corporate Affairs-controlled Investor Protection and Education Fund Authority will be in charge of running it.

The ad will draw attention to the fact that cryptocurrencies are illegal in India and that investing in such assets carries significant dangers.

Since 2019, the Indian government has been drafting a crypto policy, but nothing has been decided.

Nirmala Sitharaman, the Indian Finance Minister, stated that the government intends to discuss cryptocurrency legislation with the G20 participants.

The Reserve Bank of India (RBI), the country’s central bank, has long advocated for a total ban on all cryptocurrencies, including bitcoin and ether, due to their potential to undermine the monetary and fiscal stability of the nation.

Given that the Investor Protection and Education Fund Authority has run awareness campaigns on Ponzi scams, chit funds, and dubious crowdfunding initiatives, some people are worried that the Indian government’s crypto campaign may present cryptocurrencies in a negative light.

Bitcoin is not prohibited in India, according to the central bank and the Indian government.

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