Topic: Why did RBI ban cryptocurrency? - page 2. (Read 298 times)
As far as I know, the RBI hasn't banned crypto-currency as of yet. But they have been making crypto-currency trading more and more difficult. The latest news is that they have banned banks from dealing in crypto.
Hello Friend
Any one know what's the reality behine RBI ban cryptocurrency?
Read more: Why did RBI ban cryptocurrency?
Any one know what's the reality behine RBI ban cryptocurrency?
Read more: Why did RBI ban cryptocurrency?
Misleading title. The RBI hasn’t banned Bitcoin. It has banned banks (entities regulated by it) from providing services to cryptocurrency companies.
The stated reason is that the risks associated with dealing with cryptocurrency companies is high.
In practice that's still going to have a big impact, don't you think? Can't buy coins nor sell them for fiat. But maybe it'll have an unintended consequence, the start of a parallel economy that's using crypto exclusively.
These kinds of prohibitions are useless if to dig dipper.
Hello Friend
Any one know what's the reality behine RBI ban cryptocurrency?
Read more: Why did RBI ban cryptocurrency?
Any one know what's the reality behine RBI ban cryptocurrency?
Read more: Why did RBI ban cryptocurrency?
Misleading title. The RBI hasn’t banned Bitcoin. It has banned banks (entities regulated by it) from providing services to cryptocurrency companies.
The stated reason is that the risks associated with dealing with cryptocurrency companies is high.
I strongly disagree with the article because it can't be the sole reason for a diverse country like India to take such a decision. India is planning for a digital currency since a long time and that's not a crypto currency. It may or may not use blockchain as the core technology as well. Deputy governor of RBI also didn't mention about its possible name. It is the imagination of the writer and far from the truth.
India banned bitcoin and crypto currency because they are worried about the untraceable nature of the crypto currency. They fear that if the size of the market grows beyond a critical size, it will become a serious threat to the nation's economy. Even though they haven't clarified what can be considered as a critical size, but it is clear that they don't want their citizens to use any currency which is not regulated and controlled by them. It is a typical nature of fascism. But what you can expect when one third of the politicians of India are uneducated? This is a mentality which still makes India a developing country and not a developed one!
Yes,they want to control their citizen as China did in the past but people always find someways to use it.Because lot of people involving in the cryotocurrency trading as their full time job too so they will make some loopholes to use it.But still they have 3 months of time so anything can happen in between so untill that bitcoin transaction are allowed there. India banned bitcoin and crypto currency because they are worried about the untraceable nature of the crypto currency. They fear that if the size of the market grows beyond a critical size, it will become a serious threat to the nation's economy. Even though they haven't clarified what can be considered as a critical size, but it is clear that they don't want their citizens to use any currency which is not regulated and controlled by them. It is a typical nature of fascism. But what you can expect when one third of the politicians of India are uneducated? This is a mentality which still makes India a developing country and not a developed one!
I strongly disagree with the article because it can't be the sole reason for a diverse country like India to take such a decision. India is planning for a digital currency since a long time and that's not a crypto currency. It may or may not use blockchain as the core technology as well. Deputy governor of RBI also didn't mention about its possible name. It is the imagination of the writer and far from the truth.
India banned bitcoin and crypto currency because they are worried about the untraceable nature of the crypto currency. They fear that if the size of the market grows beyond a critical size, it will become a serious threat to the nation's economy. Even though they haven't clarified what can be considered as a critical size, but it is clear that they don't want their citizens to use any currency which is not regulated and controlled by them. It is a typical nature of fascism. But what you can expect when one third of the politicians of India are uneducated? This is a mentality which still makes India a developing country and not a developed one!
India banned bitcoin and crypto currency because they are worried about the untraceable nature of the crypto currency. They fear that if the size of the market grows beyond a critical size, it will become a serious threat to the nation's economy. Even though they haven't clarified what can be considered as a critical size, but it is clear that they don't want their citizens to use any currency which is not regulated and controlled by them. It is a typical nature of fascism. But what you can expect when one third of the politicians of India are uneducated? This is a mentality which still makes India a developing country and not a developed one!
Hello Friend
Any one know what's the reality behine RBI ban cryptocurrency?
Read more: Why did RBI ban cryptocurrency?
I don't think the RBI already banned the crypto currencies in their country because still I can see that the Indain traders are doing trades in the localbitcoin with IMPS but now this make the condition worse for the holders not the traders they are paying $500 less than the actual market rate wile selling and asking more price than the market rate while you are buying.But still people are using crypto currencies in India. Any one know what's the reality behine RBI ban cryptocurrency?
Read more: Why did RBI ban cryptocurrency?
Such prohibitions will not be effective. This creates additional difficulties but cannot stop users of cryptocurrencies. Nowadays, the Internet helps to overcome any boundaries. You can earn bitcoins on any exchange. Transfers from individuals will not be banned. Therefore, there will always be an opportunity to cash the earned bitcoins.
Hello Friend
Any one know what's the reality behine RBI ban cryptocurrency?
Read more: Why did RBI ban cryptocurrency?
Any one know what's the reality behine RBI ban cryptocurrency?
Read more: Why did RBI ban cryptocurrency?
Then in that case what will the people who have cryptocurrencies do ? There are people in India with cryptos worth millions !!! Is it just a waste ?
Hello Friend
Any one know what's the reality behine RBI ban cryptocurrency?
Read more: Why did RBI ban cryptocurrency?
Any one know what's the reality behine RBI ban cryptocurrency?
Read more: Why did RBI ban cryptocurrency?
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