Cryptocurrency in India - Backlash, Troubles, Concerns
Source of Picture: https://coinvedi.com/indias-exchanges-want-to-challenge-central-banks-crypto-crackdown/
Quick News in India
Around the middle of March, the RBI (Reserve Bank of India) decided to put the hammer down on crypto-trading. Not only did the RBI banned users from purchasing cryptocurrency through their bank accounts, but they also froze all the funds. This, not shockingly, led to the closure of many exchanges and contribute to the further decline of the market. Earlier this April, the ban was implemented and the trading volume in India went down to as high as 90%. Even though the government doesn't have an exact stance on crypto-trading, the crypto-community in India will have to go through another pile of legal documents in order to survive another day.
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In India we have something called 'Jugaad'. Which basically is the common man's finger to the establishment by telling them that we can still do it. Even when you tried your damnedest to stop us ;-)
Awesome fact! Thanks for being active on my post haha. It's lonely out here for us minnows :)
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