The recent crash in bitcoins has been due to the ban on Bitcoins by the RBI that is the authority controlling all the banks that run in India.
One should know that they have stopped us from converting cryptos into fiat.
Zebpay and other bitcoins wallets are fighting this decision already.
Due to the personal threat thatRBI seemed to face through bitcoins they made a decision that is right now affecting all the people who are involved in bitcoins already and trust me the number is not something that could easily be neglected.
With so much money invested by the individuals in this sector one needs to know that instead of encashing out holding and signing a petition for this cause will do more good.
Just running could prove detrimental for bitcoins .
One should remember the fact that it's Not China ! They are not living in a dictator's rule and for the sake of bitcoins they need to stand up against this decision.
One should know that they have stopped us from converting cryptos into fiat.
Zebpay and other bitcoins wallets are fighting this decision already.
Due to the personal threat thatRBI seemed to face through bitcoins they made a decision that is right now affecting all the people who are involved in bitcoins already and trust me the number is not something that could easily be neglected.
With so much money invested by the individuals in this sector one needs to know that instead of encashing out holding and signing a petition for this cause will do more good.
Just running could prove detrimental for bitcoins .
One should remember the fact that it's Not China ! They are not living in a dictator's rule and for the sake of bitcoins they need to stand up against this decision.
It is not easy to fight regulators. In case of regulators who have been arm twisted by governments to take certain policy decisions, it is still possible to get the courts to reverse it. In this case, the RBI seems to have taken an independent decision, with valid concerns backing it. I doubt if any court will reverse it.
But here this situation is not been regulated, rather they just straightly kept them out of it. Moreover they are willing to launch there own crypto coin, I read, but they are banning the rest and all of sudden which created a mess. This had a indirect government support, I believe every individual regulatory body gets influenced by the political government body or party.
Don't know if this can be reversed but things can be changed if the countries citizen supports, but that's tough because nearly 70% I guess won't even care.
