Namaste World
As India is one of the biggest markets for cryptocurrency with over 10million buyers and sellers constituting 10-15% of the global user bas yet Indian government didn't show any positive response towards accepting it. Despite government threats of a ban, transaction volumes are swelling and 8 million investors now hold 100 billion rupees ($1.4 billion) in crypto-investments, according to industry estimates. The Finance Minister of India "Mrs Nirmala Sitharaman" has already declared that they are about to ban all Private options of cryptocurrency except those which are being backed by any country's Government, yet She didn't inform anything further about it.
There are lots of Indian Investors who are praying for a positive response from the government, But The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 is still a mystery and no one knows about the content in it except the introduction.
I watched so many suspense thriller movies yet my mind was never so boggled before, This suspense of Cryptocurrency Bill is really making me mad! and in between this suspense, we are getting News that Cryptocurrency exchange operator Coinbase has announced that it is establishing a business presence in India. The company has also posted several job openings for its Indian operations despite reports that the government may ban cryptocurrencies.
"We’re happy to announce that Coinbase is establishing a business presence in India. By housing some IT services, including engineering, software development and customer support operations in India, we will benefit from its huge pool of world-class engineering talent."
“India has long been known as a hub for engineering and technology innovation, and we look forward to finding that world-class talent to help the Coinbase group develop new ways for our customers to interact with the crypto-economy,” the announcement continues.
Now Coinbase coming to India in such a tense situation is already creating more suspense towards the future of Cryptocurrency in India and the World.
The Indian Finance Minister explained that they won't shut down all options of cryptocurrency yet they would take a calibrated approach to legalise cryptocurrency in India.
My brain is already boggling and stoped working till now and I don't know what to say, It might be the last days of Bitcoin or any cryptocurrency for Indians
Now It's Your Turn to help me out and tell me what do you think about the Coinbase News on establishing its presence in India? I am waiting for your response in the comment section
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