Analysis: India's encryption ban may cause more than $100 million in investment funds to be "frozen"

According to CCN, in addition to preventing Indian citizens and residents from participating in the encryption market, the Indian government's ban on encryption may also have a negative impact on investors who have already invested money in digital assets. According to the Times of India, if the proposed ban becomes law, more than 100 million U.S. dollars invested by Indians on ICO may be frozen since 2016. Some industry insiders estimate that this figure is even higher, about $500 million. Indian crypto investors have encountered difficulties in extracting their cryptographic assets. This is because the Bank of India has banned all financial institutions within its scope of supervision from providing services related to encryption-related services such as exchanges. Sources interviewed by The Times of India speculated that some investors may have no choice but to hand over their crypto assets to investors in friendly-friendly areas: we cannot transfer to other people in India, and it seems that we only Can give property to other countries that support encryption.