𝗛𝗲𝘆 𝗘𝘃𝗲𝗿𝘆𝗼𝗻𝗲, 𝘄𝗲𝗹𝗰𝗼𝗺𝗲𝘀 𝗯𝗮𝗰𝗸 𝘁𝗼 𝗠𝘆 𝗯𝗹𝗼𝗴 𝗖𝗿𝘆𝗽𝘁𝗼 𝗧𝗶𝗺𝗲𝘀 𝗮𝗻𝗱 𝗛𝗼𝗽𝗲𝘀 𝘆𝗼𝘂 𝗚𝘂𝘆𝘀 𝗮𝗿𝗲 𝗱𝗼𝗶𝗻𝗴 𝗴𝗼𝗼𝗱. 𝗧𝗵𝗶𝘀 𝗔𝗿𝘁𝗶𝗰𝗹𝗲 𝗼𝗻 𝘁𝗵𝗲 𝗨𝗻𝗼𝗳𝗳𝗶𝗰𝗶𝗮𝗹 𝗰𝗿𝘆𝗽𝘁𝗼 𝗯𝗮𝗻 𝗶𝗻 𝗜𝗻𝗱𝗶𝗮 𝗯𝘆 𝘁𝗵𝗲 𝗰𝗲𝗻𝘁𝗿𝗮𝗹 𝗯𝗮𝗻𝗸.
𝐉𝐨𝐮𝐫𝐧𝐞𝐲 𝐨𝐟 𝐂𝐫𝐲𝐩𝐭𝐨 𝐜𝐮𝐫𝐫𝐞𝐧𝐜𝐲 𝐢𝐧 𝐈𝐧𝐝𝐢𝐚
The journey of crypto in India is so Dramatically. When crypto was born and other nations enjoying the cryptocurrency. But Indian Central bank ( Reserve Bank of India) imposed a ban on all transactions on Cryptocurrency. And all crypto investors reach the supreme court in India. In 2019, the Happiest verdict came from the Supreme court of India. And removed the crypto ban in India.
But RBI ( Reserve Bank of India) and the Government always thinking of the bad effect of cryptocurrency on the Indian economy. When the supreme court removed the ban on cryptocurrency, many Indian exchange startups like WazirX, CoinDCX, Zebpay, and other foreign nation exchanges enter the crypto market.
Now in march 2021, the Indian government announced that in few months they came with the cryptocurrency ban on India. Generally in India, if the government wants to change any verdict of the supreme court, they just make a law bypassing from parliament to president.
𝐀𝐧 𝐮𝐧𝐨𝐟𝐟𝐢𝐜𝐢𝐚𝐥 𝐛𝐚𝐧 𝐨𝐧 𝐜𝐫𝐲𝐩𝐭𝐨𝐜𝐮𝐫𝐫𝐞𝐧𝐜𝐲
Currently, most of the Top Indian banks like ICICI, told to the customer they if do any transaction with crypto exchange. Banks will block their account and all money. And Banks give also threat to payment gateway regarding the transaction with crypto exchange.
After asking for banks by a reporter, Banks told that they have unofficial order from the higher authority to stop the crypto transaction. Many crypto exchange CEO also says that currently have some problem with the banks for depositing money in the crypto exchange. Because RBI told unofficial ways to stop the crypto trades.
Reason for stop transaction in Rupees ( Indian currency)
- Currently, RBI tries to increase the flow of USD Dollars in the Indian market by buying Dollars from the Foreign market. And stopping the flow of rupees, for improving the Economy of India in Covid Situations
- RBI, Try to stopping the users to invest money in crypto because of the Upcoming Crypto BAN.
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