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Indian Banks no longer allowed to deal cryptocurrencies.  

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Riley
Active Member
Joined:3 years  ago
Posts: 14
14/04/2018 4:52 am  

Hey guys, recently came across this article and would like to get your opinions about this

https://coinfrenzy.io/indian-banks-ban-cryptocurrencies/

Apparently the Deputy Governor of somewhere in India announced that services dealing with cryptocurrencies are to be banned immediately. That doesn’t sound too good for the cryptocurrency ecosystem.

 

Opinions?


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admin
Member Admin
Joined:3 years  ago
Posts: 79
16/04/2018 3:46 pm  

Another case which illustrates the different paths being taken by governments around the world. Notably the government/banking regulator of Pakistan made a similar ruling shortly after. Indian exchanges and cryptocurrency market participants are reportedly already planning a challenge to the ruling on a constitutional basis and we're watching closely to see how it develops. While it certainly is significant for those in India the global ramifications are unlikely to be significant as the markets continue to tick along (seemingly unaffected by this news) and other countries are more than willing to be friendly to cryptocurrency. 


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