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.

The parliamentary discussions around a controversial crypto bill sparked fears around the ban on cryptocurrencies, with no clear indication about the ban’s scope. Cointelegraph noted that Indian investors experience panic sellingThe announcement was followed. An InterviewGarg clarified this with the local news channel News 18.