Truth me told, situations as the one I wrote about earlier today where Kotak Mahindra Bank closed an account of their customer as he had deposits and withdrawals to cryptocurrency exchanges in India tells me how scared they are of the supreme leader aka Reserve Bank of India.
RBI itself is upset over the growth of decentralised "crypto-assets" as it calls cryptocurrencies. Mainstream adoption of decentralised digital currencies and payment systems are indeed a threat to central banking infrastructure if the adoption rate increases to millions of users.
RBI recently decided to shut doors to exchanges but has largely failed in doing just that. Most if not all of the top exchanges are likely to use other mechanisms to keep the market alive and there's nothing the central bank can do to stop this from happening.
Remember, cryptocurrencies that you HODL, are yours and there's nothing the government can do about it.
But since we're also fans of the Steem blockchain:
If you like my work kindly resteem it to your friends. You may also continue reading my recent posts which might interest you:
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