The government is unhappy with crypto ads promising wild profits according to a memo summarising a meeting between Prime Minister Narendra Modi and industry stakeholders, The Economic Times has reported. Crypto stakeholders have agreed to put a stop to such ads, the report said. In the last few months, crypto exchanges have been rushing to sign up new users, in what seemed like an attempt to make it harder for the government to altogether ban cryptocurrencies. Ads promising big returns, however, can mislead unsuspecting Indians into losing money by investing in a highly volatile crypto market. How many Indians have invested in crypto? As the government moves forward on regulating cryptocurrencies, they are rapidly growing in popularity among Indian investors: 2 crore users: India has over 2 crore cryptocurrency investors, according to a conservative estimate by the founder of WazirX, India’s…
