Bitcoin Forum

The Supreme Court of India passed a rule to remove the restrictions from crypto trading companies as the Court cited there was no evidence that crypto trading could cause any tangible harm to the nation. Binance and WazirX (https://www.coincurb.com/news/binance-flashes-indian-blockchain/) as the two have declared to provide funds valued at $50M to support the development of blockchain technology in the country.

Binance are known to be a good business people. Knowing CZ Im sure he is not wasted a single dollar for anything that they can gain beneficial though. I can sense that India supreme court removal of accusation on crypto, seems influenced by Binance famousity. WazirX is probably the best market now on India and due to their overwhelming growth it helps too on the case of the ban on crypto. Anyway, Im pretty sure this could give more opportunity to many Indians and show how cryptocurrency and blockchain are really adopting and growing continuously. Maybe we can see a bullish time on India and more blockchain related new start up will be introduced.

Crypto is certainly not detrimental to any country, the only problem is that each country has its own understanding and rules in addressing all matters, such as it is in the state of India, where the government has begun to understand crypto in depth so that the Indian Supreme Court issued rules to remove restrictions from companies crypto trade.

Binance is a rich exchange. After they give money to an African country just recently they also give their neighbors $50M, I wouldn't be surprise if this is also for the stable Indian ruppee coin. These Chinese exchange is gradually developing the countries where they have close ties with to be prepared to blockchain adoption.

The crypto scene in India is largely untapped. While the oldest Indian crypto exchange moved out of the country due to the RBI ban, WazirX quickly became the favorite choice among Indians for their crypto trading, especially when they launched their p2p mode of trading. So Binance and Wazirx is now trying to capture the remaining market which is still pretty much scattered around various platforms. Just good business sense I must say!

I am sure, they are going to pitch Indian government in their upcoming initiative to launch a digital currency! A billion dollar project indeed!

Seems like India now are going into full crypto adoption, and good thing Binance again very supportive with the development of crypto, that's why I am very much confident that my investment with Binance would be more valuable in the future.

Binance involvement is the main reason why India remove ban on wazirx, if it's all on wazirx alone it's never going to happen, ban is lifted and we are happy about it but here comes Coronavirus which is making crypto market to suffer presently, how about that?

Most likely that will be the case in the future. Almost all of their funds that used in helping other are not wasted since India can release a stablecoin on Binance later on. They already have many countries tied up and I can see that they are the only market that focusing on expanding their wings on different outlet worldwide. I do hope they can have stablecoin for our country too.

Binance is really working hard on crypto mass adoption, I think India won't be the last, the CEO of binance is very determined to build mass crypto adoption worldwide and Africa will be the next, very soon India will have huge impact on crypto just like how China is today

This shows that crypto is gaining more supports every year, it's only a matter of time that more countries will trust crypto,the only danger here is regulations for new projects, just because of money from initial offering many scammers are taking advantage of new investors, this have to stop

This is a success for India but this would give big effect to the crypto market. Exchanges like Binance and WazirX  are doing well for supporting the development in India, as the government is more supportive, this is just the beginning of their success.

With the removal of trade rules on companies this is certainly very good because the state of India now understands how blockchain works so that the court makes trading in India easier.
Binance by giving $ 50 million because they already that the Indian state will be more advanced compared to other countries then the exchange is willing to pour large funds provided there is no prohibition there.
One of them is WazirX which will be successful in India for the first time.

That's good news and that fund will help a lot but it looks like that the indian market will not face the bullrun as soon as possible caused by india is also facing the crisis caused by corona virus. As far as i know, if some people have already announced by local india authority if they were getting infected by the corona virus. That means if the bullrun will not happen caused by that news.
In my opinion, the bullrun can happen if there was big news that has a correlation to the platform directly.

Once after the top court of India lifts the ban I am sure there will be a mass adoption of crypto currency in India, I believe India is a big business hub as the majority of population is high.

And yes binance team are so nice when it comes to business, In every aspect they are the one who literally Involve and help. I am really impressed with the way they approach the people, it's unique..

I think there will be a great pump in crypto soon, not only in India. Once more countries lifts ban on crypto, there will be more adoptions and I can see its already started happening.

Wazirix had a great pump last time, probably the ban has been lifted and Indian country can trade crypto freely.

This is a solid partnership Binance and WazirX is building with the people of India. They know what they are doing and at the long long, they will get back their money with continous flow of profit, because I see it as an investment, not for immediate dividend, but for future purpose.
India has a lot of crypto enthusiasts and so many of them are already developing interest in it.
It is a big achievement for the crypto community if a country that once placed a ban on crypto could remove it. With their population, I foresee a lot of great things.

India will soon become a crypto haven, with a support of great companies and a top crypto exchange. Making bitcoin and cryptocurrency legal is the best so far, but since we are on a big tragedy with the result of Covid19 I don’t think this kind of good news can lift the market up, let’s wait more months or a year before we totally recover. For now, Indian people should enjoy this now and take the opportunity to buy a cheap bitcoin.

Interested to see this information, a few weeks ago India has accepted bitcoin/altcoin again right? Maybe they make an analyst first to make a decision and now we have seen the answer. I hope more countries will take a decision like India and allowing cryptocurrency on their country at least accept them as a comodity and lagilized them. Indeed there will be many country who consider that accecpting cryptocurrency will make their economic situation disturbed also will make the utilization of money fiat decreased but it was just their worried because the fact I can see any negative effect from the country who have accpeted cryptocurrency on his country.

I think Binance see a huge market potential in India and want to position itself as a leading exchange in the place. If Crypto truly take off in India and people buy into it the way they buy into Gold then this is going to be huge for them coupled with the fact that the population of India is projected to take over than of China very soon

Old dead news. :(

After that we almost lost 45% of value on total market due to the corona panic selling.

OP are you in hybernation mode for the past 10 days?

We are almost facing financial crisis all over the world. :-[

It seems like it's not just India, many markets are starting to turn green now. the increase is indeed happening quickly in the market. but hopefully, become stronger and not only in a short time.

This could be just a temporary recovery because we sill have no good reason for the market to recover but still it increases for last few hours.Maybe people starts to realize what is important thing need to be done at situations like pandemic to hold their asset values from falling? Still its no one's predicted movement.

I do not think so, although it is a great news for global crypto community but i think crypto trading was going on even after the ban in india because crypto cannot be simply stopped we saw similar things in other countries like China too but i think these things have little impact and rest assured soon all countries around the world are going to allow crypto as legal and legit assets.

This is old news and I can see that you have inserted a project.

I don't think that Wazirx was also discussed there during those times. But I'm sure that bitcoin ban and doubts has been lifted by the Supreme court and this means that everyone rejoiced after the verdict has been made.

Regards to the bull run, it's a contribution of all. We'll see if there will be another series of minting.

This is far from what is happening. While India has the population, crypto interest there is not enough to trigger another bull run.

WazirX is the most profitable project to have come from India, and this is is because of CZ involvement with Wazir. While many exchanges see exploiting users for quick gain, CZ sees ahead of all these exploitations but a bigger opportunity. He may be taking over the Indian Crypto market.

No doubt that Binance are really working towards helping the world and crypto as well,these past months we are witnessing the actions binance doing from helping the victims of calamities and extending hands to fund those who in need for the main reason of advertising the cryptocurrency.

so having Binance on this one?for sure sooner India will make a road to make Bullrun take effect specially when this Corona Virus ended,also the coming Halving will take place and brings everyone(those who supports even the dip) a profit that they deserve and i am lucky to be one of those.

It was really good to hear that the Indian Supreme court has finally "X" the RBI ban.

However, it is just the timing of the good news, because after that the market just crashed because of the covid-19 pandemic. But I still believed that after everything settles down, India will be one of the biggest market of crypto. Just look at Binance, they understand the growing market in India that's why they immediately give $50 million to support the development of blockchain technology in the country. So let's see, when bull run eventually happen, India might be the biggest market out there.

With the lifting of the cryptocurrency trade ban, I think the people of India have the opportunity to invest in a growing market. India is the second most populous country in the world and I think that lifting this ban will make the cryptocurrency market in India even more excited and might bring changes to the global cryptocurrency market.

With $ 50 million in money, Binance and Hemorrhoids can make massive marketing and can attract many new investors from India. With the potential population, I think the prospect of India in the cryptocurrency market is getting bigger and there will be many new projects emerging from India

The supreme court judgement on the legitimacy of cryptocurrency in India has opened the door for millions of Indians to invest in crypto and as a result they is high demand of Indian crypto projects.

Well, they are literally the best country to take advantage of crypto and they could potentially change the whole nation with it. Think about it, what is India known for? Doing cheap labor online for the other nations right? From social media to seo to clicking to coding to many many other stuff, anything online you can think of, Indians are there.

So, what does that mean, they could charge 5 bucks and still make a decent money, 5 bucks a day is 150 bucks and not a horrible amount of money, that is actually a great amount for a side income. Which is why if crypto were to get huge in India I am pretty sure there would be a lot better off people there, it would help them charge smaller amounts a lot easier and make the transactions cheaper and faster as well.

Binance is a big exchange and it is never taken any wrong decision till now. WazirX is a big Indian exchange and acqurieng it might turn out to be beneficial for Binance. India is know for its software development and when you have so many local talents available why not utilise it for the future technology. Blockchain is the future and Binance is investing in the right direction.

I'm a little bit concerned on wazirX, but hey who are we to decide if binance's decisions are wrong.
the time will show who was right all the way and it seems like binance proved they did most things right way

I am expecting a growth of adoption in India when the economy will be stable again, as of now, we can't assure if there are good news since the world is fighting the virus, that's their main concern for now. India would certainly improve their economy with their full adoption in crypto as investors might concentrate their business in India if other big countries still has no clear regulation on crypto.