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WHY IS INDIAN GOVERNMENT BANNING FOREIGN CRYPTO EXCHANGES ? EXPLAINED ? #reducecryptotaxOn Friday, ET had reported the Centre could ban offshore cryptocurrency dealing apps such as Binance if they are found guilty under the Money. The government can ban cryptos through a new law, but such rules can only be challenged for violation of fundamental rights, says Purshottam. The Indian government has issued compliance show cause notices to nine offshore crypto exchanges under its Prevention of Money Laundering Act .
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