According to a summary of a meeting between the Indian Prime Minister Narendra Modi and several stakeholders on Saturday, the Indian government has decided that advertisements by cryptocurrency exchanges that promise customers wild profits and are not transparent about the volatile nature of such trading must be prohibited. 

Several stakeholders including New Delhi reached  consensus that irresponsible advertisements are misleading youths in the nation and must be stopped.

To curb potential misuse of using crypto trading vehicle for laundering money and financing terrorism efforts, the government officials have indicated that they may require crypto exchanges to perform a full KYC (Know Your Customer) of their customers. Most cryptocurrency exchanges have preemptively complied with this suggestion and some have prohibited users from moving their tokens and coins to private wallets or other exchanges.

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