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Hello Friends,
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I would like tell the news from India. Actually this is because of Indian govt. and supreme court result.
A some day ago , 5th July 2018. supreme court of India gave the result about Cryptocurrency, the result was, India would not regulate the cryptocurrency because of Illegal funding. and again supreme court gave the order to Indian crypto exchanges about to banned Deposit and Withdrawl from Indian banks.
Indian banks already banned after 5th july 2018, deposite and withdrawl Indian Rupees to Indian exchanges. so, most of the people withdraw their funds before 5th july 2018. but the new Investors, who want to invest money in cryptocurrency market, they have issue to deposite fund in the form of Indian Rupees. and you know about bitcon market, bitcoin already fall down in their all time low. below $6000.
Thats why most of the exhanges have go in loss. and the bad news coming from India everyday. sometimes issue of Govt. sometimes from Supreme Court and sometimes someone had done bitcoin scam, in that form. because of that some Exchanges try to take decision of moving cryptocurrency Exchanges from India to Other Country. and we dont know In future , when will India Regulate cryptocurreny , whether after months or years.
So, the news about Exchange is that Another crypto currency exchange BuyUCoin is moving to Singapore From India.
International Digital Asset Platform (IDAP) is one such exchange started by India-based founders but has set up the company in Estonia (Europe). to run the crypto exchange legitimately, according to CEO of IDAP. in April 2018.
because, business want freedom to grow in all over the World. and India is not able to give such freedom to cryptocurrecy exchange right now. In Result, the Indian Exchanges moving from India to abroad. because the businessman cannot stop their business because of Govt.
Another crypto exchange BuyUCoin, is in the process of shifting its blockchain business to Singapore by August and releasing a crypto token in run upto the expiry of deadline of RBI's ban.
Shivan Thakral, co-founder and CEO of BuyUCoin said that , "We were running the exchange for the past two years but lately, we have decided to move abroad so as to survive,".
Niranjan Patil, cryptocurrency expert, and chief hedging strategist (currencies), FXWirePro, a Bengaluru-based (India) company said that, "Though there is nothing to panic as of now. However, the exchanges have found a reason to leave the country, at least for the time being,".
However, instead of issuing warnings after warnings, the experts suggest that the government should frame a set of regulations so as to clear the air over uncertainty of the future of blockchain and cryptocurrency trading.
Actually, its a bad news for India , and Indian Investers. but right now Indian have no option rather than wait until cryptocurrency regulate in India.
but Indians need to get positive all the news because , All Investors invest their money for future , and i am sure about that, within 1-2 year Govt. will regulate the cryptocurrency in India. so , hope that news we will hear in near future soon.
Whats yout opinion about that news, and whats your suggestion ?
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