A Bad news for crypto enthusiast in India, As I am from India I do know what options are available now but I never expected the goverment to stop the Banks from engaging with the exchange. A case has been filed but how much time it will take only God knows. Still you are allowed to trade and hodl Cryptos but you cannot convert it into fiat. Lets see what happens next,
Topic: Indian exchanges have announced that no crypto-fiat exchanges will be allowed . - page 2. (Read 540 times)
July 09, 2018, 09:42:30 AM
July 09, 2018, 09:18:24 AM
They have no choice. With the RBI pulling the plug on banking relationships, they could only offer crypto-crypto exchanges from now onwards. But here they have a huge disadvantage - how can they compete with other crypto-crypto exchanges like Binance? If they cannot solve the fiat problem, they will die a slow death.
July 09, 2018, 07:01:26 AM
i dont think that indian government has taken a correct decision. they should have researched the importance of crypto before taking a decison like this. Many governments and companies ban on crypto related things and they again reverse their decisions after understanding the importance. For an example like facebook ban all the cyypto related advertising and they reversed their decision. so i hope india will soon understand the importance of cypto currency and correct their decision
July 09, 2018, 12:31:33 AM
It said that ignorance is a disease,hat is why some countries are acting so ignorantly toward crptocurrency,there other ways which investors can cash there investment out even with is ban in india.
July 09, 2018, 12:19:25 AM
Recently, the encryption industry has encountered some troubles in India. It is hoped that this will soon be over. After all, there are many people in India and the number of users is huge.
July 09, 2018, 12:17:06 AM
This is indeed a sad news. Given that no fiat will be allowed, it will make the market a little bit undesirable to the people residing in India. This will result in fewer investors from India. And losing the people from an entire means that the crypto currency market has lost an entire country's worth of investors.
July 07, 2018, 04:16:54 PM
Indian exchanges have announced that no crypto-fiat exchanges will be allowed till further RBI notice.So now the future of Crypto in india is in dilemma.
if so convert crypto into PayPal, Skrill, MOL, WebMoney and other
they just banned crypto right? not with money online
there is some exchange that also accepted cashing out using money online
SIMPLE
July 07, 2018, 03:25:55 PM
Situations like this happen here and there. It's sad that most of the authority don't even know about the cryptocurrency system and how beneficial it could be , before banning them. Even though India wasn't a large community, it's sad how a part of the crypto community got eliminated.
July 07, 2018, 02:48:29 PM
Another country banning cryptocurrencies without knowing anything about it. Well, good thing that India isn't significant player on crypto market, so we won't see any impact like it was with China.
eventhough crypto users in India are not too much but indeed this is a bad news. in this year many countries announcement to banned crypto and it make the market of crypto is very hard to rise. I hope no more country can banned crypto so that the market of crypto will recover soon.
July 07, 2018, 02:43:10 PM
That is a bad news there coming from India and another attack on cryptocurrencies this will definitely lower the eas of doing crypto and online transactions within that jurisdictions, but even at that there are other mean such as the use of exchange site which normally run as an application on smart phone that crypto users can use to exchange crypto to faint so is not a big deal.
July 07, 2018, 02:38:07 PM
This news is really tragedy based on this people of investors will face lots of trouble also those people will be face loss because they have to sell their coins at low price also this will cause of price down in the market based on this govt. should review this decisions so people can earn lots of profit.
July 07, 2018, 01:23:09 PM
While the crypto currency will still be free to go to India. Therefore, the situation is unpleasant, but not critical. While everyone who wants to deal with crypto currency in India, will deal with it.
In this situation, it is necessary to finally express their opinion legislators, because the regulation of the crypto currency by the banks will always cause ambiguity in interpretation and disputed views on the legitimacy of the actions of the banks of the country.
In this situation, it is necessary to finally express their opinion legislators, because the regulation of the crypto currency by the banks will always cause ambiguity in interpretation and disputed views on the legitimacy of the actions of the banks of the country.
July 07, 2018, 12:29:38 PM
Indian exchanges have announced that no crypto-fiat exchanges will be allowed till further RBI notice.So now the future of Crypto in india is in dilemma.
This is not a new news, there are so many countries which have banned or have strict policies towards cryptocurrencies and India is just another entry in that list. Their won't be any significant impact of this on CC market since India is not a big player in this market.
July 07, 2018, 12:16:37 PM
we all know RBI is the Central Bank of India so if they concidaring crypto currency as threat then it's very disappointing , I guess just like others they still didn't have clear idea about this market and it's working protocol so hopefully soon the situation will be changed.
July 07, 2018, 09:54:39 AM
That is really very sad. I thought India is a crypto friendly state but I was wrong. I think this country is feeling unsafe about this market because of it's inconsistency.
July 07, 2018, 08:05:26 AM
It is a bad news for the whole industry. A huge amount of traders will move away from this sector. So I think it may affect the market a bit negatively.
July 07, 2018, 07:59:42 AM
It is really sad to know that the RBI has banned cryptocurrency. I think it is a huge loss for the Indian crypto investors. I think someday the government of India will understand the importance of cryptocurrency and the will accept it again.
July 07, 2018, 05:29:12 AM
Indian exchanges have announced that no crypto-fiat exchanges will be allowed till further RBI notice.So now the future of Crypto in india is in dilemma.
will this have a serious impact? not if India has been doing attacks for bitcoin and crypto in 2017. this is not a hot new news. but my only estimate is to make the FUD market down more than ever, and this will never work for the umpteenth time.
July 07, 2018, 05:05:22 AM
This is why India will never be a first world country. They are their own worst enemy.
July 07, 2018, 04:55:31 AM
Indian exchanges have announced that no crypto-fiat exchanges will be allowed till further RBI notice.So now the future of Crypto in india is in dilemma.
It is so bad to hear… Scince cryptocurrencies have been banned in India, I think it creates a great disagreement and discouragment in all the other nations. I hope they will cancel that decision.Jump to: