FAQs on Crypto Regulations Answered

There has been a sudden drop in the crypto market in the past following the news that the government of India plans to impose a ban on all private cryptocurrencies. This has led to millions of people losing their money, especially beginner traders who freaked out right after the news was circulated. The impact of this news has caused a widespread panic and crash in the overall crypto market.

Being a trusted global crypto platform, we take it as our responsibility to educate our users and refrain them from making any uninformed decisions. So to bust the confusion, we will walk you through the common FAQs and their possible answers.

Will Cryptocurrencies be banned?

As far as the news is concerned, there has not been any official statement released on this subject. However, the Indian crypto industry is in talks with the government on how a regulatory framework can be created. Hence, a regulatory framework is likely expected. It would be a little early to make any comment on this. Also, we would request you not to rely on any other source of information except official government sources.

Will I lose my money if Crypto is banned in India?

Perhaps, this is the most crucial question every crypto trader is looking to get clarification on. Though, we all are quite positive on the government's move of not prohibiting it but introducing a regulatory framework. Citing the We want you to be rest assured that your money with CrossTower is absolutely safe and secure.

What should I do with my investments?

Crypto market is volatile and hence we will suggest you not to make any agile decisions based on the current situation. Do your own market research before you make any bigger move like selling your investments. On top of that, we adhere to all the guidelines set forth by the Indian government. Whether it is KYC or identity verification, we do it all. As far as the security is concerned, we have the best people in place to ensure rigorous security and threat-free transactions. Globally ranked #7 Crypto platform, we are trusted by millions of our valued customers who have chosen us as their crypto exchange partner.

When will the Crypto bill be tabled?

The bill which was expected to be tabled after 29th Nov 2021, in on-going winter session, has been delayed. It is expected that lawmakers involved in this bill will discuss the framework to ensure the security of the customers, how India can leverage this future technology and more through it. Any prior intimation on the bill timeline would be wrong to guess.

What key-points from the regulatory framework are expected from the Crypto Bill?

There has been limited information from the bill’s details. We at CrossTower, have been in touch with other stakeholders to discuss the key-points from the regulatory framework. Upon discussion, we have come to know that there is a higher possibility that following points can be discussed in the bill.

  • Customers’ money is protected
  • Leverage from crypto technology
  • Financial market stability

How to start trading in Cryptocurrencies?

It is as simple as pie. You can register yourself with us, submit your KYC, complete your profile and you are all set to trade. You can even start trading without completing your KYC but there is a trading limit on it. To trade limitlessly, we encourage you to complete your profile on CrossTower. For more information, you can follow the below-listed steps.

  • Register/login at CrossTower
  • Add your bank details
  • Complete your profile

If you have any other questions in your mind which you want us to answer then you are free to write to us on support@crosstower.in. We will revert back to you with possible answers.

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