Topic: India's Banks shut down Cyptocurrency trading accounts - page 2. (Read 333 times)
This is odd, hope India will not follow the stupid Chinese government and ban completely the cryptocurrencies. It will be bad for India.
It's a little difficult to understand India's stance on BTC and crypto currency in general. Few months ago, Finance Minister denounced cryptos as 'ponzi schemes'. After that announced that Reliance will launch their crypto currency 'JioCoin' and Reliance being one of the 'beneficiaries' of the government they will regulate cryptos which will increase adoption. And now this cracking down people with BTC profit. Hopefully they make up their mind as a lot of BTC transactions happen in India.
I agree. I thought that they will not make hard stance against crypto, or at least remain neutral. But the sudden shift caught me by surprise. They are not like Russia, releasing statement then totally contracting them in the coming days.
Yeah, I hope that they make up their mind and moved towards regulation of crypto and not a hammer ban. This announcement has somewhat affecting the market, because the price is now going down.
Though, at the end, this impact its just short term.
I agree, that clampdown in China in August just sent Chinese traders to Korean exchanges. I think the demand is there and people will find a way to be part of the future. I mean weeds been ban, but most countries I've been to always seem to have it around.
It's a little difficult to understand India's stance on BTC and crypto currency in general. Few months ago, Finance Minister denounced cryptos as 'ponzi schemes'. After that announced that Reliance will launch their crypto currency 'JioCoin' and Reliance being one of the 'beneficiaries' of the government they will regulate cryptos which will increase adoption. And now this cracking down people with BTC profit. Hopefully they make up their mind as a lot of BTC transactions happen in India.
I agree. I thought that they will not make hard stance against crypto, or at least remain neutral. But the sudden shift caught me by surprise. They are not like Russia, releasing statement then totally contracting them in the coming days.
Yeah, I hope that they make up their mind and moved towards regulation of crypto and not a hammer ban. This announcement has somewhat affecting the market, because the price is now going down.
Though, at the end, this impact is just short term.
"Banks across India are cracking down on bitcoin trade, months after Finance Minster Arun Jaitley publicly denounced the digital currency.
Bitcoin opened on the markets at $12,899.20 (£9,307.16) before plunging by $1,000 (£721.53) just before 8am GMT.
The token bounced back somewhat at 2.05pm GMT, exchanging hands at $12,199.50 (£8,802.31) – down 4.11 percent on the past 24 hours.
Bitcoin exchanges in India are now under fire, with the State Bank of India (SB), Axis Bank, HDFC Bank, ICICI Bank and Yes Bank reportedly closing or limiting activity on accounts tied to bitcoin trade."
https://www.express.co.uk/finance/city/907786/bitcoin-price-india-cryptocurrency-trading-btc-exchange
Banks are getting scared and I think people will always find a way if they want it.
Your country may prohibit the use of bitcoin coinsBitcoin opened on the markets at $12,899.20 (£9,307.16) before plunging by $1,000 (£721.53) just before 8am GMT.
The token bounced back somewhat at 2.05pm GMT, exchanging hands at $12,199.50 (£8,802.31) – down 4.11 percent on the past 24 hours.
Bitcoin exchanges in India are now under fire, with the State Bank of India (SB), Axis Bank, HDFC Bank, ICICI Bank and Yes Bank reportedly closing or limiting activity on accounts tied to bitcoin trade."
https://www.express.co.uk/finance/city/907786/bitcoin-price-india-cryptocurrency-trading-btc-exchange
Banks are getting scared and I think people will always find a way if they want it.
Governments or Banks can ban as much as they want. If people have a desire, they'll find a way to get it when they want it bad enough. Crypto will grow and those that embrace it will benefit from said growth. Those that reject it, will lose out on business.
"Banks across India are cracking down on bitcoin trade, months after Finance Minster Arun Jaitley publicly denounced the digital currency.
Bitcoin opened on the markets at $12,899.20 (£9,307.16) before plunging by $1,000 (£721.53) just before 8am GMT.
The token bounced back somewhat at 2.05pm GMT, exchanging hands at $12,199.50 (£8,802.31) – down 4.11 percent on the past 24 hours.
Bitcoin exchanges in India are now under fire, with the State Bank of India (SB), Axis Bank, HDFC Bank, ICICI Bank and Yes Bank reportedly closing or limiting activity on accounts tied to bitcoin trade."
https://www.express.co.uk/finance/city/907786/bitcoin-price-india-cryptocurrency-trading-btc-exchange
Banks are getting scared and I think people will always find a way if they want it.
Your country may prohibit the use of bitcoin coins Bitcoin opened on the markets at $12,899.20 (£9,307.16) before plunging by $1,000 (£721.53) just before 8am GMT.
The token bounced back somewhat at 2.05pm GMT, exchanging hands at $12,199.50 (£8,802.31) – down 4.11 percent on the past 24 hours.
Bitcoin exchanges in India are now under fire, with the State Bank of India (SB), Axis Bank, HDFC Bank, ICICI Bank and Yes Bank reportedly closing or limiting activity on accounts tied to bitcoin trade."
https://www.express.co.uk/finance/city/907786/bitcoin-price-india-cryptocurrency-trading-btc-exchange
Banks are getting scared and I think people will always find a way if they want it.
It's a little difficult to understand India's stance on BTC and crypto currency in general. Few months ago, Finance Minister denounced cryptos as 'ponzi schemes'. After that announced that Reliance will launch their crypto currency 'JioCoin' and Reliance being one of the 'beneficiaries' of the government they will regulate cryptos which will increase adoption. And now this cracking down people with BTC profit. Hopefully they make up their mind as a lot of BTC transactions happen in India.
"Banks across India are cracking down on bitcoin trade, months after Finance Minster Arun Jaitley publicly denounced the digital currency.
Bitcoin opened on the markets at $12,899.20 (£9,307.16) before plunging by $1,000 (£721.53) just before 8am GMT.
The token bounced back somewhat at 2.05pm GMT, exchanging hands at $12,199.50 (£8,802.31) – down 4.11 percent on the past 24 hours.
Bitcoin exchanges in India are now under fire, with the State Bank of India (SB), Axis Bank, HDFC Bank, ICICI Bank and Yes Bank reportedly closing or limiting activity on accounts tied to bitcoin trade."
https://www.express.co.uk/finance/city/907786/bitcoin-price-india-cryptocurrency-trading-btc-exchange
Banks are getting scared and I think people will always find a way if they want it.
Bitcoin opened on the markets at $12,899.20 (£9,307.16) before plunging by $1,000 (£721.53) just before 8am GMT.
The token bounced back somewhat at 2.05pm GMT, exchanging hands at $12,199.50 (£8,802.31) – down 4.11 percent on the past 24 hours.
Bitcoin exchanges in India are now under fire, with the State Bank of India (SB), Axis Bank, HDFC Bank, ICICI Bank and Yes Bank reportedly closing or limiting activity on accounts tied to bitcoin trade."
https://www.express.co.uk/finance/city/907786/bitcoin-price-india-cryptocurrency-trading-btc-exchange
Banks are getting scared and I think people will always find a way if they want it.
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