CoinSwitch Kuber CEO says crypto ban unlikely as $6-bn assets held in India

An outright ban on crypto is unlikely as retail investors in the country hold about $6 billion of such virtual currencies, CoinSwitch Kuber founder and CEO Ashish Singhal said in a webinar on Wednesday. He also sounded a word of caution on the consequences of a ban, saying the Nigerian government had to walk back its ban within 12 days as crypto is a peer-to-peer technology that can’t be easily contained.

The session on Youtube was hosted to answer users’ queries as a listing of a bill for regulating digital currencies in the Winter Session of the parliament has put crypto users in a fix.