People are worried once again after ET reported that India government is once again considering banning cryptocurrencies in India.
Last time the RBI circular scared away hundreds if not 1-2K users from India on Steem and now finally new users have signed up and few old ones have returned to HIVE.
Don't let the sound of this new issue scare you away once again. The crypto exchanges in India are well prepared to deal with these issues now and crypto trading activity alone has reached new highs after tapering off in the last 2 years.
It's too early to say if the government will introduce that draconian draft policy as they originally planned to release earlier in the year. While anything is possible, let us not base our financial decisions on uncertain news.
During the last issue I had hundreds and hundreds of messages from people and I told them we'll get through this and we all did just fine. Especially those who didn't make a panic exit from this space.
Even now over the last couple of days I have answered many msgs from friends and acquaintances over social media regarding the same.
For our friends on HIVE, don't let this push you out of the crypto space as it did 2 years ago. Even if such a bill has to be passed it won't happen overnight and it will be challenged too.
Let us remain positive that our government will consider regulating this industry in India instead of banning our people from so many opportunities here.
Meanwhile, stay put is all I can say and don't invest or hodl that you cannot risk losing.
Goodluck.
I am not at all scared even when they first ban the transaction from bank as there is always a way out to work around crypto and for banning this there is a long way which government will has to take so just relaxing and watching all these dramas.
Regulation should be done but not complete banning, I have been investing all the while and thus even if that happens we have a way to use our crypto.
Yes, I am not feared this time. I think we have won the previous fight and even if such kind of ban is imposed, we would get thorough this.
Keeping my eye on India: it seems like the government really doesn't know what its doing but is terrified of the loss of control.
Instead of providing more opportunities they are taking them away
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