As all the crypto community is familiar with the recent notice of RBI decision on banning cryptocurrency related business with banks and financial institution. The Central Bank of India mandated in April that all the Banks & Financial institution should stop all their services regarding the exchange of cryptocurrency related business within three months. The final date to disable all the services is 5th of July.

However, several big exchanges have filed the petition in the high court against RBI. Two hearing has already took place in the court but they did not come to any final point. The high court has finalized the next hearing on 20th of July, which is couples of weeks far away from the final date of RBI ban.

Here is the photo where Mr. Arun Jaitley has announced about the cryptocurrency ban in India.

So, all the Indain crypto community are in fear, what is going to happen on 5th July. But on the other hand many positive news are coming out from the Indian government & RBI that they are planning to regulate cryptocurrencies. In the late May they have also announced about the crypto taxes and few regulations. However we do not have any official new regarding the regulations of cryptocurrencies.

As we all know India has the one of the largest crypto community so any decision in regarding the crypto ban may affect the market. We might going to see a fluctuation in price near the date. So, lets hope for the positivity and some good decision from RBI before the date.

If you found my post useful then please vote and comment on my post. Hope you all will keep supporting me to grow as young member in the steemit community.