Wassup Light steemers ,
RBI (Reserve bank of India) bans trading of any virtual currency making it next to impossible to do any peer to peer transactions. Consequences of trading crypto might range from Two to Five years in prison.
Wow.
We are not going in details of why a bank would buy crypto : we already know!
Booming crypto market means smaller profits to banks. Crypto is money to the people. Banks are money from the people. Crypto prices go up and people stop holding their money in banks. Simple as that folks.
Imagine, holding $200,000 in your personal bank account . Your aunt , aunt Greta wants to buy a Porsche. Banks loans to aunt Greta , aunt Greta fails to pay. Lets assume she didn't tell you.
Bank takes away the Porsche and acquires more property.
Back to Bitcoin, well cryptocurrency is prone to news and prone to lawmakers. Sadly , most governments do not encourage money to people or crypto. Just because you cannot regulate cryptocurrency doesn't mean you ban it. For some it might be the only shot at their dreams, what do you guys think?
