The Indian government “strongly feels” that advertisements by cryptocurrency exchanges that promise customers wild profits and are not transparent about the volatile nature of such trading must be prohibited, according to a memo outlining the summary of a meeting between the Indian Prime Minister Narendra Modi and several stakeholders on Saturday.
A consensus has been reached by several stakeholders including New Delhi that irresponsible advertisements are misleading youths in the nation and must be stopped, according to the memo, which was shared with reporters.
In recent weeks, leading cryptocurrency exchanges including Andreessen Horowitz-backed CoinSwitch Kuber and B Capital Group-backed CoinDCX have launched ads that many individuals have deemed highly irresponsible.
Indian crypto exchanges have been very irresponsible in making absu …
