BREAKING: 🇮🇳 RBI reiterates call for a crypto ban, according to documents reviewed by Reuters. But here's what's important to remember: The RBI has opposed crypto for years. This is not a new position. It has repeatedly cited financial stability, monetary sovereignty, and consumer protection risks. In 2018, the RBI effectively barred banks from serving crypto businesses. In 2020, the Supreme Court struck down that banking ban, allowing the industry to operate again. The government also drafted a bill that reportedly proposed banning private cryptocurrencies, with penalties including up to 10 years in prison. That bill was never introduced in Parliament and never became law. Instead, India imposed a flat 30% tax on crypto gains and a 1% TDS while delaying a comprehensive crypto law. The RBI can recommend a ban, but the final decision rests with the Government of India and Parliament.(Crypto India)