Banning Cryptocurrency - Bitcoin | India 2021 November

 Indian's are confused, shocked, and in anger!

Blockchain & Cryptocurrency 

Blockchain & Cryptocurrency 

Oh wait, don’t start trolling “ME”, read it first,  It's not my word, I’m happy with my dogecoin and not falling for this panic sale. 

Blockchain & Cryptocurrency 

This is what the majority of Indian investor who has put their decent money in cryptocurrency, was mumbling around, Na Kar Modi, Esa Na Mar…..When the value of cryptocurrency almost fallen up to 25% 

&

Why such a drastic fall?

Credit goes to our confused government;

Blockchain & Cryptocurrency 

In 2018, Crypto was banned by RBI, In 2020, the supreme court lifted the ban from crypto, which leads heavy buyers in cryptocurrency from India, now In 2021, the government is planning to ban crypto.

Recently when news came out, the Indian government is planning to prohibit all private cryptocurrencies, this has created huge panic alarms in the general public.

Blockchain & Cryptocurrency 

Many sold their investment at a lower price, started releasing their crypto even on huge losses. Thinking of maybe in the future it will not be a legal tender, and their investment value will become zero. 

(Brother, cryptocurrency is already not considered as a legal tender anywhere in the world, except Central America)

Oh wait, did you recall something reading this term “Legal Tender”, Yeah Yeah, you guess it right, 

Many Indian’s have heard this word, when 5 years later in same November month, when our beloved PM Modi announced “NOTE BANDI” 

blockchain, cryptocurrency ban

Now, its time for “Digital Note Bandi”

Seems like “November” month is not good for “Indian Financial Management”

Ban Private Cryptocurrency

The government is planning to ban all private cryptocurrencies, 

Now, what is a private cryptocurrency;

The cryptocurrency which use stealth mode to avoid getting traced or tracked is considered as “PRIVATE CRYPTO” Such as Monero, Zcash, Dash, etc

But there are huge possibilities, the Indian government may consider some selected cryptocurrencies as commodities/assets. 

But in the worst-case scenario; the Indian Government can declare all activities around crypto illegal, including (Buying - Selling - Holding), even RSS chief also giving a sign that government needs to, has to do something about this cryptocurrency,

As we are all aware it's the decentralized process, which will give more power to people, not the government. But taking such a decision will drastically bounce back to the Indian economy, 

Indian cryptocurrency exchanges like “CoinDCX, COIN SWITCH” need to shut down their operations, and their company valuation is in billions of dollars, which will also lead to more unemployment. 

So don’t release your holding in panic mode, wait for the crypto bill which will about to come on 29th November, even if the government plans to ban it, you will get a decent window to release it in the international market. 

Fact 1: In 2018, Crypto was banned by RBI.

Fact 2: In 2020, the supreme court lifted the ban from crypto, which leads to heavy buyers in cryptocurrency from India.

 Fact 3: In 2021, again the government is planning to ban crypto.

 Fact 4: According to Blockchain and Crypto Assets Council, India holds about 6 Lakhs crore in crypto assets.

 Fact 5: There are approximately 6000, cryptocurrencies that exist globally.

What are your thoughts on this?