Sad news - India virtually banned cryptocurrencies like Bitcoin

[omravi]

Taking the ‘Chinese’ step, India took a move towards banning Bitcoin and other cryptocurrencies in the country. The Reserve Bank of India (RBI) issued a statement stating that it will not deal with or provide any service to the entities dealing with any cryptocurrency such as Bitcoin. This really is a sad news for the crypto investers in india as recently the FUD is clearing and more and more people and businesses are showing interest in cryptocurrency in India. People fear what they don't understand and this seems to be one such kind of a move. How can they tag it all as a 'Ponzi scheme' . Looks like bad time for Bitcoin. Let us all hope it stays strong in this storm.

Source - https://www.bloombergquint.com/business/2018/04/05/rbi-bans-regulated-entities-from-dealing-with-virtual-currencies

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