Indian Crypto Exchanges Starts Blocking Accounts: Salman Khan Joins NFT Bandwagon

After government organisations raised red flags about cryptocurrencies being used for money laundering, Indian cryptocurrency exchanges have begun reporting and barring trading accounts that engage in suspicious deals.

The self-regulation comes at a time when India has yet to issue any legislation or taxation methods for cryptocurrencies.

Cybercrime officers, the Enforcement Directorate, and the Income Tax Department, according to industry trackers, are among the investigators.

The cryptocurrency is currently trading near $57,300, after reaching a five-month high of $58,500 earlier in the day. However, it is up 30% this month, boosted by rising hopes that the US Securities and Exchange Commission would approve a futures-based bitcoin exchange-traded fund soon (ETF).

Salman Khan has joined the non-fungible tokens (NFT) bandwagon, more than a week after Bollywood icon Amitabh Bachchan revealed his decision to launch his NFT collection.

The actor announced the debut of his own collection of NFTs on Twitter, which would be accessible on BollyCoin, a new, specialized, Bollywood-themed NFT platform. Fans will be able to invest in movie snippets and stills, legendary dialogues, posters, never-before-seen video, and celebrity social media content and products through the site.

Following El Salvador's recent adoption of Bitcoin as legal tender, Venezuela has stated that it will soon open its largest airport to allow travellers to purchase flight tickets using bitcoin.

The Digital Pound Foundation was founded by a group of private-sector specialists with the goal of promoting the development of the United Kingdom's central bank digital currency (CBDC).

The legal status of cryptocurrency in India is unclear, but that hasn't stopped Indians from investing in the asset. According to an annual proliferation index compiled by broker discovery and comparison tool BrokerChoose, India has the world's largest number of bitcoin owners in terms of individual holders.