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

in Project HOPE4 years ago (edited)

According to what I read written by Hellen Park in https://es.cointelegraph.com/news/indian-central-bank-clarifies-regulations-as-local-banks-shun-crypto Link where you will find information related to what is happening right now in India with cryptocurrencies all the decision of both the government and the central bank of India is related to the allegations about the use of cryptoassets as a mechanism of money laundering, in this case began a campaign to prohibit the use and circulation of coins in India, however this has generated a framework of discomfort and uncertainty regarding the issue, because, In this case the use of foreign cryptoassets is prohibited but the government proposes the creation of its own digital currency that circulates only in India, something that causes confusion, i.e. what is being prohibited is actually the foreign investment and not the cryptoassets if we think a little about the whole matter, i.e. they want to tell investors that they must rely on a cryptocurrency that only serves in India and that they cannot use elsewhere and that additional when they want to withdraw their investment or invest in another cryptoasset, how will it be done if the market is limited. Another aspect that draws attention is a news published by Greg Thomson in the same news portal that I quoted at the beginning of the post where he says that India will use blockchain technology for parliamentary elections in his country, ie voters will be able to export ballots to and from another province, so where are we left with India and its decision to ban cryptocurrencies. Now my question would be what is actually being banned?

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 3 years ago 

Wow @emimoron

what an amazing comment. You're not from India so I was quite surprised to see your feedback :)
(comment upvoted already)

Now my question would be what is actually being banned?
you've lost me here ...

ps. consider using "enter" from time to time. It's quite difficult to read long blocks of text.

Cheers, Piotr

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