Does RBI softening their stance with bitcoin?

[Herbert2020]

The rupee is inflated and buying bitcoin in India has been popular for awhile. Government can't "ban" it because people already use anonymous exchanges to buy and sell bitcoin there. Unless they want to claim everyone is a criminal and try to find how everyone stores private keys...good luck.

The problem for the government and banks in India is that the corruption has gone on for decades and won't stop without something like bitcoin becoming currency.

that corruption is exactly why they are creating road blocks for bitcoin's adoption. and this has been going on at least 2 years now. i believe it mainly started when they invalidated their large bank notes back in 2016 and there was chaos in the country and people couldn't have access to their own money because of this and many started their exit, some through bitcoin.

[rajkr]

Every country will have to accept block chain technology and crypto currency concept . It is right to impose some restriction on use of it but blindly ban it is not solution so i hope RBI will come with some rules and regulation.They can not deny the common person interest as they have already provide licence to trading company.

[AlvinJetton]

Now that the market is finally open for the Indians, it will be a huge opportunity for the Indian IT sector. They are highly engrossed in outsourcing and this will create even more jobs in the Indian market.

[TravisField]

RBI had previously banned cryptos in India, however, with recent turn of events, it looks like that RBI will move from its stance and allow cryptos to be legal in India but only after passing a framework and imposing regulations on them. Looks like future is bright for crypto market in India.

[StuartJonson]

Until now it seems like Indian supreme court will be going in favor of cryptos to be allowed but definitely by imposing some rules and regulations on them. This incident has been trending for last couple of months and after the recent turn of events, it looks very likely for RBI to step down from their rigid stand.

[bitfocus]

if RBI does that, that would be very impressive and a good stand and Indian people will be benefited in the long run.