challenging the central bank over its decision,pretty much useless
but the move could be the first step on a way to reverting the ruling
India was supposed to be one of the countries that legalised bitcoin,not banned it and it did nothing but bad things to the countrie's economy in the long run
they would have to lift the ban sooner or later and losing time as well as the image of a cryptofriendly country is nothing too positive
but the move could be the first step on a way to reverting the ruling
India was supposed to be one of the countries that legalised bitcoin,not banned it and it did nothing but bad things to the countrie's economy in the long run
they would have to lift the ban sooner or later and losing time as well as the image of a cryptofriendly country is nothing too positive
The decision to challenge the Central Bank's decision might very well turn out to be useless, but these companies have no choice. Only the courts can offer them relief. Otherwise they have to shut down their companies and move on.
India was not expected to be a Bitcoin-friendly nation, but this is outright hostile.
How can you tell that the decision will turn useless, until you have the full rights you can win. India is a democracy country and all citizens have rights to do any business until it is not associated with illegal activities. If they think that Bitcoin and cryptocurrency is a illegal business then even gold, dollars and other fiat currency are also associated in illegal activities so they should also be banned. They should have regulated and formed a law , that should have been good like what other country are doing.
Hope that the result of this lawsuit comes positive for indian bitcoin users.
