Restrictions to trade bitcoin or other virtua currencies

[virendarnagpal]

While checking the site https://www.zebpay.com/buy-bitcoin/  I got following message today

"RBI and Virtual Currencies

RBI has recently issued communication about discontinuation of services by RBI regulated entities (banks/payment gateways) for purchase and sale of Bitcoin and other virtual currencies. We remain committed to keeping customer funds and assets secure, and are exploring various options. However, sudden disruption in banking services could affect our ability to service deposits and withdrawals, until banking services are restored. Please keep this risk factor in mind while making your investment decisions".


Whether above issue seems to be settled in near future or it will prove to be a permanent ban?  As a result such a big consumer market like India without Bitcoin, will not it affect the development and popularization of bitcoin.

[Xester]

While checking the site https://www.zebpay.com/buy-bitcoin/  I got following message today

"RBI and Virtual Currencies

RBI has recently issued communication about discontinuation of services by RBI regulated entities (banks/payment gateways) for purchase and sale of Bitcoin and other virtual currencies. We remain committed to keeping customer funds and assets secure, and are exploring various options. However, sudden disruption in banking services could affect our ability to service deposits and withdrawals, until banking services are restored. Please keep this risk factor in mind while making your investment decisions".


Whether above issue seems to be settled in near future or it will prove to be a permanent ban?  As a result such a big consumer market like India without Bitcoin, will not it affect the development and popularization of bitcoin.

They have their own reasons why they have banned bitcoin and other cryptocurrencies in India but there is nothing to worry since if there are countries who banned them there are countries who also accepts them. When those countries who accepts cryptocurrency have developed their economy those who banned cryptocurrencies will start to review their own decisions.