orangetax



Offline



Activity: 91

Merit: 2







Jr. MemberActivity: 91Merit: 2 Indian Banks Banned From Dealing in Cryptocurrencies April 05, 2018, 12:32:05 PM

Last edit: April 05, 2018, 05:28:43 PM by orangetax #1



Read the full article here: https://coinfrenzy.io/indian-banks-ban-cryptocurrencies/

For more interesting and trending articles, visit: https://coinfrenzy.io/



*Attention* The title has been edited. Apologies for the confusion.



The Deputy Governor of RBI, BP Kanungo, just announced officially that all the services dealing with cryptocurrencies will be banned with immediate effect. So essentially none of the entities regulated by RBI would be able to provide services related to cryptocurrencies to customers.*Attention* The title has been edited. Apologies for the confusion.

kiemnhieutien



Offline



Activity: 490

Merit: 17







MemberActivity: 490Merit: 17 Re: India Bans Cryptocurrencies with Immediate Effect April 05, 2018, 12:38:14 PM #3 It's such a bad new for Indian cryptocurrency community. Many government ban crypto just because that they can control, it's show the government's weak. But i'm sure that in some day you will see a country have their own cryptocurrency, like Venezuela now. Problem here is just time.

fabskie21



Offline



Activity: 280

Merit: 10







MemberActivity: 280Merit: 10 Re: India Bans Cryptocurrencies with Immediate Effect April 05, 2018, 12:52:45 PM #5 Quoted from the article you posted: "Right now, it is a bit too early to say that this is a complete banwe would need to wait a little more to be sure about itowing to the lack of details in which things were discussed."

Perhaps, things are still unsure and are still at the table. But if completely implemented, this would be a very sad news for the massive crypto community in India and surely would bring the market further downward.

steveabrahams



Offline



Activity: 1050

Merit: 254









Sr. MemberActivity: 1050Merit: 254 Re: India Bans Cryptocurrencies with Immediate Effect April 05, 2018, 12:59:53 PM #7 Here we go, another bad news on cryptocurrency. I'm afraid the price will go down again, that's why i already sold out all my bitcoins and my altcoins. I'm also ready to buyback again though when the price start going up again. Many indian friends of mine also told me that bitcoin ban is real.

arndt.maier



Offline



Activity: 26

Merit: 0







NewbieActivity: 26Merit: 0 Re: India Bans Cryptocurrencies with Immediate Effect April 05, 2018, 01:02:22 PM #8 Quote from: kiemnhieutien on April 05, 2018, 12:38:14 PM It's such a bad new for Indian cryptocurrency community. Many government ban crypto just because that they can control , it's show the government's weak. But i'm sure that in some day you will see a country have their own cryptocurrency, like Venezuela now. Problem here is just time.



I guess you meant "can't control". Your are right here.



And the arise of Indian crypto is also possible. But your example with Venezuela is not the best one. Petro is prohibited in US and can be prohibited in other countries too. And it's still not accepted by other countries. So what's the use of such crypto?



I don't think that it'll strike crypto projects very much. Most of ICO project are registered in crypto loyal countries but noy in countries of their team location. I guess you meant "can't control". Your are right here.And the arise of Indian crypto is also possible. But your example with Venezuela is not the best one. Petro is prohibited in US and can be prohibited in other countries too. And it's still not accepted by other countries. So what's the use of such crypto?I don't think that it'll strike crypto projects very much. Most of ICO project are registered in crypto loyal countries but noy in countries of their team location.

dipan30343456



Offline



Activity: 60

Merit: 0







NewbieActivity: 60Merit: 0 Re: India Bans Cryptocurrencies with Immediate Effect April 05, 2018, 01:09:45 PM #10 India's ban on digital encryption is temporary.



Because India cannot now effectively regulate digital cryptography! The worry is that the current market environment in India cannot guarantee the full control of encrypted currency transactions.

Cult



Offline



Activity: 479

Merit: 100







Full MemberActivity: 479Merit: 100 Re: India Bans Cryptocurrencies with Immediate Effect April 05, 2018, 01:32:32 PM #12 I guess such a ban will only incite a lot of Indians to buy some crypto, as in order to make it impossible to buy you need to ban the Internet.

kirana08



Offline



Activity: 122

Merit: 0







NewbieActivity: 122Merit: 0 Re: India Bans Cryptocurrencies with Immediate Effect April 05, 2018, 01:36:49 PM #14 Government of india will not yet impose penalties for virtual currency users. They will only limit and close access to use cryptocurrency as a means of payment,

Nevertheless they will adopt and develop the blockchain technology system used by the virtual currency, for use in the national financial system. The move is seen to strengthen India's ambition to become one of the main countries in the digital economy sector.