Both India and Pakistan have backed away from crypto. The reasons they give are consumer protection and reducing money laundering. Here is the coverage in Fortune.
Essentially, their moves make it difficult for residents of their nations to buy crypto.
In India, the Reserve Bank of India told all entities it regulates to be out of the crypto niche within three months.
In Pakistan, the State Bank of Pakistan issued the same kind of ban to the nation's banks and financial services. It also went on record as stating that crypto is not legal tender issued or guaranteed by the government.
So far, these developments have not put downward pressure on the prices of crypto globally. However, in India the price of bitcoin plunged more than $1,000 less than what was trending on global markets.
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