No, India Has Not Banned Bitcoin Trading, Government Confirms
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However, if you really read in to exactly what is being done here, you can bitcoin trading in india news that it isn't an outright ban of bitcoin and cryptocurrencies at all. The RBI has announced that they will be ending the relationship between its own banks and any user or corporation dealing with cryptocurrencies.
That sounds like a ban on first glance, but it just means that regulated banks can no longer be involved in the space. That may not seem like great news, and it's not, but it definitely does not mean crypto is banned in the region. Another thing to keep in mind is that even if some of these banks cease their support of crypto related companies, these companies can always look outside of bitcoin trading in india news country for support. It's not entirely clear how many exchanges will be affected by the RBIs newest stance, but it certainly is not as bad as some news outlets made it sound.
What happens going forward is anyone's guess in regards to future regulations, but it will certainly be worth keeping an eye on over the next 3 months to see how many banks ultimately exit the cryptocurrency space. But as of now, bitcoin trading has not been banned in India, despite what some headlines may have you believe. RBI has banned all of its regulated entities which is nearly all of the banks in the country from rendering services to entities dealing with cryptocurrencies.
There are very few autonomous banks that don't come under the purview of RBI but these cannot render services at scale and ergo useless for the purposes of trading cryptocurrencies.
Indian Exchanges can however continue trading crypto pairs but that's useless if people cannot enter into the markets with money or exit their positions for INR. This will result in OTC trades which I think is fine too but the price won't be good anymore and the volumes maybe very low. Maybe my post will clear things up a bit more if anyone is interested to learn more. Have you seen this new cool t-shirt design?
I've been working on it a lot. If you like it you may get it here: I followed you, let's increase bitcoin trading in india news power of Steemit together! I hope you follow me. I'm always glad to have a new acquaintance with good people! They are serious this time! Maybe Exchanges use a bank from other countries to transfer the fiat.
BUT we won't be able to buy cryptocurrencies in India. All the more reason to earn from steemit if we want to expand our crypto portfolio. For countries prohibiting crypto, it's their loss. Bitcoin and crypto is unstoppable and knows no boundaries nor country. With crypto you have a choice to hold your cash in fiat or in crypto. And going by history which one do you think the masses will prefer once they get enlightened? Its a very good time to buy in for Indians who are believers in crypto and not just in it for marginal trading.
For the first time indian exchanges are running a lower arbitrage than their foreign counterparts. Long live the BTC. Regulations increase and make crypto continue to fall.
It is not the end but after seeing the price of crypto so high I tempted to buy more today. Financial Technology is growing every day very fast. RBI is just scared of the volatility of the crypto market. No one will stop cryptocurriencies. Egypt banned all crypto, but bitcoin trading in india news people do transactions in crypto. This is why I bitcoin trading in india news to listen to mainstream media because they have lots of BS.
They like to invest catchy headlines without thinking the effects to normal people as long as they get the attention of viewers. If it is officially not banned yet, why the false news making the crypto market unstable. All these negative news making the market more volatile. Well the news is bitcoin trading in india news they are bitcoin trading in india news regulated banks to step away from bitcoin trading in india news the local exchanges.
That means those exchanges could still go to other banks outside the region to support them. The trading itself is not banned per say. There is no Bitcoin trading ban in India. The other day a few news stories came out saying that India would be banning cryptocurrencies. Ones like this one: What is bitcoin trading in india news then? It more has to do with separating local regulated banks from the crypto industry.
The wording being more along the lines of this: More can be found here: Not great news, but not the end of the world. Exchanges, for example, could always look outside India for banking partners. At least not yet. Stay informed my friends. Authors get paid when people like you upvote their post. Thank you for posting jrcornel.
Appreciate the detailed analysis. It does make sense to separate them. I think the concern is it could be banned in India It's funny how the mainstream media can brainwash the herd like a hypnotist. Yes the ban is on. Why r u writing false news. Nice post, thanks for the detailed info.
In Russia, the first crypto-exchanger was opened. How can you ban bitcoin? I don't like countries banning crypto i would like to see crypto become more and more of an usual bitcoin trading in india news too use as payments. You and me both.