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RE: HOW IS IT WITH THE CURRENT CRYPTO BAN IN INDIA?

in Project HOPE3 years ago (edited)

Thanks for coming up with this topic. Wil try not to sugarcoat it.

In Short-Term :

We certainly cannot be sure about will it be banned or not. Present government is in habit of taking knee-jerk decisions. There was a lot of backfire for some recent policy decisions but nothing was reverted.

If they see a threat to Indian economy, they may well ban it, quiet possible.
Today, India is pre-occupied with many other major challenges and attention is towards those, Covid situation being one.
Discussion on crypto will definitely come up once Covid situation normalizes.

Crypto can be used for other ill purposes too so in near future we may see some restriction for sure.

A country which can ban PUB-G and more recently asked all social media giants to follow policies or face ban, can do anything.

But in Long-Term:

Once the initial hurdles and clarity is attained, India will easy the crypto related policies.
1.4 billion population is a huge number, it is very crucial that India adopts crypto.
Looking at the bigger picture, many investments have started following, new exchanges are coming up.
As per recent RBIs instruction, banks were asked not mislead customers by showing old notifications regarding crypto ban.
Lets hope for the best.

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 3 years ago 

I greatly appreciate your valuable comment @knowledgefruit
(upvoted already).

Cheers, Piotr