The creator of India’s crypto bill, former Finance Secretary Subhash Garg, dismissed the notion of banning “private cryptocurrencies” as a misinterpretation while highlighting the enormous potential of cryptocurrencies and blockchain technology.

Fears about a ban on cryptocurrency were sparked by Parliamentary debates around controversial crypto bills, but there was no indication of the scope. Cointelegraph reports that Indian investors experience panic sellingThe announcement was followed. An InterviewGarg explained the following: