Will Cryptocurrency ever rule India? Crypto Ban in India? 2021
Getting rich overnight was a dream till the concept of blockchain introduced in our cultured world, but it's sheer injustice to Cryptocurrency if we only appreciate blockchain technology. When everyone had the fantasy of becoming rich overnight, the volatility factory of crypto made it possible to earn an unbelievable amount of money. When stock traders were earning a slight amount of return after analyzing and sweating to discuss every company's opportunities and future, the bitcoin started its journey in 2010. Some people bought Bitcoins and became millionaires after a few years. When magic becomes real, the game transforms and the bubble of crypto has been rising like fire in the woods but is it legitimate according to every country's Government, where only a few will get money, and rest will lose.
When 90% of people lose, 10% of people win in Cryptocurrency and with that, the unidentified transactions, black money, money laundering, terrorism, prostitution and many harmful activities come in action, and that is attracting governments from all over the world. In 2018, when RBI banned Cryptocurrency, the supreme court of India, rescinded the ban by saying, we can't ban just because we don't understand. The ban isn't the solution, but when 20 million people in India came into business, the Indian Government came into action.
Recently, China banned cryptocurrency activities this year, but some countries like El Salvador became brave to accept Bitcoin as legal tender. Now, the confusion has started in India over whether crypto is legal or not. Even, the misuse of information leads to declining of the market where investors portfolio has become the empty cloud. With every pump and decline, the hearts were following. Not every country has banned Cryptocurrency, but some have regulated it in their own ways:
Denmark, UK, Spain, Mexico, Japan, Iceland, Germany, and France
The timeline of India's road to Cryptocurrency: Hints that say Cryptocurrency may get banned in India:
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