Today's most highlighted news in India...
What will be the future of cryptocurrency in India????
Will RBI ban crypto banking transaction or RBI revise the decision?????
From last few months, we have heard so much about cryptocurrency that Bitcoin is banned in India and many more.
In India, the Reserve Bank of India (RBI) has banned them with immediate effect from "dealing with or providing services to any individuals or business entities dealing with or settling virtual currencies". You will not be able to buy cryptocurrency through banks or e-wallets etc.
RBI has warned banks about cryptocurrencies in January, telling them to step up scrutiny of financial transactions by companies and exchanges involved in the trade of bitcoins and similar digital tender.
To date, Bitcoin is not functional as a means of payment, but it relies on the oxygen provided by the connection to standard means of payments and trading apps that link users to conventional bank accounts. If the only “business case” is use for illicit or illegal transactions, central banks cannot allow such tokens to rely on much of the same institutional infrastructure that serves the overall financial system and freeload on the trust that it provides. The biggest impact was after the RBI circular came out on April 6 when there was a 25-30% drop in crypto prices because of panic sale. “The current sentiment in India is a little negative because we are not able to see a clear path. Unless there is clarity from the government and the RBI, no one can be sure what comes next”
What will be the next step of RBI??????
Today, the Reserve Bank of India (RBI) released a statement directing all regulated entities, including banks, to stop dealing with individuals and businesses dabbling in virtual currencies. This amounts to a ban on banks in dealing with companies or individuals that trade in cryptocurrencies.
"Virtual Currencies (VCs), also variously referred to as cryptocurrencies and crypto assets, raise concerns of consumer protection, market integrity and money laundering, among others... In view of the associated risks, it has been decided that, with immediate effect, entities regulated by RBI shall not deal with or provide services to any individual or business entities dealing with or settling VCs," the RBI said in a statement today.
Today's is last date of banking transcation for cryptocurrency.
What will be the next step for people to convert into INR from cryptocurrency????
Do you have any suggestion then suggest us!!!
We dont know what the @banjo rbi will do
It is major suspense that what will be the RBI next step through cryptocurrency!!!
@banjo @vidhyaprak
If you were around.
I don't. It is impossible for me to know the meaning of life.
@banjo Exactly what will the ultimately result of cryptocurrency in India????
I don't know the question, but the answer is 42.
Nice information
Its top trending news man
We have to be alert!!!
nice post, you can follow money guru video or game of bitcoin video on youtube.
Actually, i have seen there blog recently only.... follow done.
Actually, i
Have seen there blog recently
Only.... follow done.
- majestyman
I'm a bot. I detect haiku.
what is going to do india govt with crypto but in india crypto should be legal in india
WazirX is best exchange in this condition
Some rumours are also about WazirX but we are not sure about it....
Then also thanks for your suggestion.
Government should think about us
We don't have any idea what will be the next step of Govt.. and what will be is impact?????/
I hope govt will regulate
We can't predict anything right now!
Let's see what happens?
India should regulate bitcoin and I up voted u please do Sam same for mehttps://steemit.com/appletechnews/@sdas/app-store-turns-10-with-500-million-weekly-visitors-in-155-countries
Ok man!
No body can stop crypto.not to worry
Exactly not to worry...
Because crypto is virtual currency.. anyways hope for the Best!!
Bro we can by and sell person 2 person directly
what?
Let them do anything there are many ways to cash out your money. No need to worry. Also if they ban it’s good news for us that we don’t have to pay tax.
The main point is we don't have to pay tax...
Great idea!! anyways lets see what happens???
They don’t want tax that’s the best news for common people
@majestyman that news was bad news for all crypto holders in india . Hope we find some alternative way to cash out btc
The alternative way is P2P which has already launched by many indian Exchange. You can use this site to cash out anytime : https://paxful.com/roots/buy-bitcoin/index?affiliate=gKmQAPrrkVA
Yes... of course
We have to find out the other way for this solution.
Yes... of course We have
To find out the other way
For this solution.
- majestyman
I'm a bot. I detect haiku.
Nice article
Its trending article man!!!
Just be alert.
Thank you bro for help us. You give us importent news about indian crypto
Sure man!!!
As soon as we get top news, we will share with you guys..
Just keep supporting us!
Informative article......... future of cypto is in black in Indian
We can't say crypto is black in India but it is for sure that its illegal in India..
This is s really bad news((
Bad news but we have find out the alternative solution for it.
Anyways hope for the best.!
Congratulations @majestyman! You have completed the following achievement on Steemit and have been rewarded with new badge(s) :
Click on the badge to view your Board of Honor.
If you no longer want to receive notifications, reply to this comment with the word
STOPDo not miss the last post from @steemitboard:
SteemitBoard World Cup Contest - Quarter Finals - Day 1
Participate in the SteemitBoard World Cup Contest!
Collect World Cup badges and win free SBD
Support the Gold Sponsors of the contest: @good-karma and @lukestokes
So much Thankful for your reward @steemitboard!
Beginning blogs has only given good response..
So we will give our 100% effort to give quality and top trending news!! @good-karma @lukestokes
Thanks a lot!
No cryptos are not banned, you can still trade on the platforms
Yes man!!!
We can trade but we have find out the alternative solution for it...