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This question does not have a plain vanilla answer in lsquo;yesrsquo; or lsquo;norsquo;, as the government and the central bank still look unsure as to how to deal with this new-age phenomenon. In https://satoshi-minakawa.com/ , The Reserve Bank of India (RBI) came out strongly and kind of banned these tokens in India. Then in 2020, the Supreme Court of India reversed the RBI ban. That move was welcomed by the crypto exchanges and investors throughout the country. After this, Indian banks have tried to curtail transactions with crypto-exchanges as, in their view, they are governed by RBI. But later, RBI mentioned that banks cannot quote its 2018 ban to customers as it was overruled by the Supreme Court, paving the way for crypto trading to continue in India. Please enable Cookies and reload the page. According to InvestorPlace, multiple Reddit users — who help fuel the price and value of Dogecoin — believe “thata single whale is keeping the price of DOGE downby selling off millions of the tokens every hour.”