India attitude towards to cryptocurrency, will cryptocurrency market have future?

[cortanababy]

Cryptocurrency is like a strong wind flow into the world, carry into many people’ life and for some one, its like a good thing that was brought to them and enrich their lives, thinking which cryptocurrency to invest in, while some are still resist cryptocurrency, and believe they are bubble, stop playing them, never use tools on Bitcoin Price Widget For Website and investing.

 

So, what about the state and government their attitude toward cryptocurrency?

 

India: The Bank of India responded to the cryptocurrency ban and did not change its position.

 

The Bank of India (RBI) has responded to a report on the cryptocurrency ban submitted by the Indian Internet and Mobile Association (IAMAI). According to Sohail Merchant, CEO of Pocketbits, the Indian cryptocurrency exchange, RBI's response is “a two-page general response”. As of now, the response cannot be public, but there is not much readability. Merchant said that RBI did not even carefully consider the views expressed in the report. Their arguments were based on “investor protection” and did not change their position.

 

Comments: This incident shows that India's position on cryptocurrency is very firm. In April of this year, the Bank of India issued regulations prohibiting banks and financial institutions under its supervision from providing services for cryptocurrencies. The Indian government is tough on cryptocurrency and is more worried about its use in illegal financial activities.

 

Here is a relative article from Medium about India attitude towards cryptocurency and more details about the cryptocurrency development in India. Source: https://medium.com/@Vince81901477/a-history-of-the-development-of-cryptocurrency-in-india-6dff65869d59

 

[Kate]

Umm I dont think crypto will have a bright future in India die to the ban by RBI

[cryptosfr]

Of course  India  attitude towards  cryptocurrency is firm  like  they  did  against   cash money  last year . Indian  goverment  obviously  want   to increase  their taxes  incomes  so  they  regulate  crypto  .  Like  china did  against ICO ,  india  would  allow  crypto later   but  wth their own  regualted place . Such country like  India  cant denie  itself  from fintech movemnt  , would  be stupid ...