The senior advocate of RBI Mr. Shyam Divan told the chief justice of supreme court Mr. Dipak Misra that it is necessary to regulate Bitcoin (BTC) and other cryptocurrencies since these “particular means” will “encourage illegal transactions.” Divan also pointed out that the issue has “immense policy dimensions,” attesting that crypto has the potential to impact global money flows.
Now it looks quite funny but it's true that the thinking of the RBI on crypto-dealing in India is now taking a reverse direction. It may because of repeatedly growth of blockchain as the Bank of Canada conducts study on Blockchain that means Bockchain is now also grabbing the attention of Banks. It may looks small thing to all of you but it is going to be a very big deal in future coz it means that in the coming day banks may move towards blockchain to save double spending, to save the situation of fake currencies and of course to make their economy strong. RBI may notice all these things that's why their senior advocate is saying that cryptocurrencies in Indian should not get ban. Anyway it's a really good news comes to all of us but still it's all depends on the judgement of supreme court which is going to be on September 11.
So, banning of cryptocurrencies is going to be very difficult for RBI and they may change their mind as a lot of money is been spent on the crypto market by the citizens of India. So, the chances of not banning the cryptocurrecies in India is getting higher coz of the reason which I have mentioned above.😜So hold the BTC as it's price ia also getting higher day by day now bull run is coming again. More updates aree you going to come stay alert especially to those who are holding BTC..
What's your opinion about it let me know by commenting below.
Thank you,
@deva8408