4 Indian Writ Petitions will be heard May 11

[jamesashmore1964]

Currently banks in India are banned from doing crypto related business
And given 3 months grace to wind down

But

4 exchanges so NO and will have their writ petitions heard tomorrow: May11

Just making you aware

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[hunnykaushal]

Yes let us see what gonna happens tomorrow, chances are 60-40 i guess.

[jamesashmore1964]

Yes let us see what gonna happens tomorrow, chances are 60-40 i guess.

Indians are extremely cautious and shrewd in business. Maybe a regulatory bombshell is going to be released by the EU or USA and they Know about it or have identified something perilous!

The SEC are happy with Bitcoin but look upon the majority of coins as securities.
ETH was a security at ICO but now its not but most of the coins on the platform are!

[bobylee]

I am not sure about the number of traders on those four exchanges. If the number is high, there is a chance of up or down in the market, probably a downfall might happen. But I think it will not be so long. However, I wish the hearing goes for the favor of those exchanges. 

[hengha]

This news has some influence on the market today. We can see that the market is turning red. Of course, I don’t think India’s ban can have more lasting impact.

[climaxcrypto]

That's not a good news for the investors. It it is totally banned someday, then all the investors will be at a loss.  Let's see what happens.

[rsrb]

I hope this will bring something good news. There're chance that India will adopt bitcoin through this and withdraw the bans. I'm looking forward to it.

[loyaeskiron]

This is another form of conflicts between the country of India and cryptocurrency business, maybe it is only a threat in order to be more open on the public about the security and safety to all cryptocurrency users on the Indians people. Hopefully it will resolved immediately for the good benifits to their people of India.

[thefaucetrunner]

I hope it works out for India. There is great potential to enhance the financial system with crypto, especially in the rural areas down the road.

[Lindazz]

I don't think India has a big impact on the whole cryptocurrency market.
So I don't think it will have much impact on the price of the entire encrypted money market.

[croptodic]

India have a negative mindset against bitcoin they banned bitcoin. But i think one day bitcoin will reduce this problem and Indian investors are also invest on bitcoin.

[Brianlee0112]

We know India's Reserve bank has banned bitcoin and this news is giving me some sort of hope that this ban will be removed and India will also accept Bitcoin and be a bitcoin friendly country.