India is figuring out something much of the world already figured out
They figured out you can't really ban bitcoin and crypto.
I am sure China will figure it out eventually as well...
Trying to ban bitcoin and crypto is akin to putting up a fence similar to this one:
(Source: https://www.reddit.com/r/Bitcoin/comments/a79rt2/once_you_understand_how_bitcoin_works_you_also/)
Yea, it's there and it looks pretty, but how much good does it really do?
In this instance almost none.
What happened?
India's supreme court overruled a previous central bank ruling that banned banks from dealing with cryptocurrencies.
This was a big deal as it now allows residents of India to transfer fiat/crypto to and from their banks to exchanges.
They hadn't banned trading of bitcoin and crypto per say, but by eliminating the banks involvement, they had made it all but illegal.
Before this was put in place, India represented roughly $60 million worth of bitcoin trading per day.
I imaging in time, we will that number far exceeded again.
In fact, with a population of over a billion people, I would not be surprised to see India eventually become a very large player in the crypto industry.
Hopefully other countries start waking up as well!
Cough cough, I'm looking at you China.
Stay informed my friends.
-Doc