End of road for Cryptocurrencies in INDIA?

[kokrokok]

The central bank of India (RBI) today, directed all the regulated bodies to not to provide services to any individual and business entities that use or deals in virtual currencies within a specified time period i.e. about 3 months.

RBI bans regulated entities to deal with crypto users
Reserve Bank of India (RBI) has barred the regulated entities including banks from providing services to any individual or business entity that deals with virtual currencies.

Today has been the first bi-monthly Monetary Policy Statement of 2018-19 of RBI, where the central bank has given a 3 months period to sever their ties with the entities using virtual currencies.

This news is true or not I do not really know but many speculate that India previously received virtual currency and now start refusing it for some reason .. very unfortunate with this because many projects are coming from India and this seems to be Considered by India back to leave virtual currency.

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[Caelanpelley]

Compared with the highly developed countries of electronic money, India has a lot of trouble with this currency. India's complex relationship with electronic money and companies involved in the industry has now reached a "go to court" stage. The RBI instructed banks to terminate their current business relationship with electronic money companies in July this year. This signals the end of the road for electronic money in India.

[QuestionAuthority]

What would you expect from people that worship cows and eat dogs? It seems like they do a lot of shit backwards.

[Nolivelasco13]

What would you expect from people that worship cows and eat dogs? It seems like they do

[Spanopohlo]

This is exactly the feeling when countries around the Globe starts to ban Cryptocurrency or the virtual currency, and its depression. More and more people will start to doubt and be scared of investing because one day their country might start banning theirs too. Luckily in our country, there are still the significance of bitcoin around the land making it neither a  threat or an accepted job by the government.

[mutrang23]

Every ban has a negative impact on the market when the government issues a prohibition. Do not worry and think that the government can ban all people investing in Crypto because everything is in incognito mode so the government can not control it.

[Mohamme]

I think India, like China, can still use a VPN.
So I think people can still trade privately.

[jhonnydeep87]

You can not stop them from using crypto currency because it is decentralized with the internet. Banks will not deal with them anymore because they can find other ways to earn their money again then you can tell your friends or relatives in other countries in order to help you can withdraw money and send your money in cash.

[Luminous-Nova]

noticE: the Centrall banks hate cryptocurrency because it will make their power less in the country and economy of the country, and they can not controll anything! thats the truth cryptocurrency is good for us, but not good for goverments!

[paruru123]

India, like China, has banned the BTC deal, but in the long run it is an irrational choice, with developed countries such as Japan and the United States trading BTC.

[Antonina]

I do not want to say that this is the end, but this will create great uncertainty in the Indian market. also, the Indian government will lose its share. In fact, with this announcement, the Indian government has opened a new path for the functioning of the black market.

[angchosenone]

Will and won't state it's the finish of the street yet yes it will make a great deal of vulnerability in the Indian market. In addition, Indian government will free its offer of the cake. All things considered with this announcement, Indian government really opened up another path for the underground market to work. Like weapons and medications are unlawful in India however anybody can buy it with cash. This sort of preservationist mindset demonstrates that why a poor nation will dependably stay poor. Tragic!

[jamesashmore1964]

If you understand why India and China banned it you will understand Bitcoins problem! Who can help with an answer to this question!

Maybe because it is unpredictable and can ruin people’s finances!
It also threatens local FIAT
It is used as a form of payment for illegal activities

[jessicaldiaseso]

How can the Indian government do something terrible like that? and one more thing a bad news for a traders this will make a big loss for them. And this will definitely affect the price of Bitcoin, lately it has really become a tough test for Bitcoin and the users of Bitcoin.

[tristana443]

Just FUD news, there will be no restrictions here.

[ngocanh3799]

I feel anxious, it is bad news for us as it will affect all other countries. Bitcoin will decrease by this news.

[legenduim]

I feel anxious, it is bad news for us as it will affect all other countries. Bitcoin will decrease by this news.

I have a hope that Indian government will soon understand that they are making the biggest mistake. Why do not they want to give the greatest chance to their people that do not have the best life?