Home arrow Article arrow Article Detail

India's plan to ban Bitcoin faces battle as its crypto crowd fights

Profile Image

Vandana Mrigwani Follow


Apr, 20 2021

Apr, 20 2021

likes 0 | comments 0

Article Image

India has completed very well in mobile payments, the bureaucracy has advanced a phlegmatic resistance to newer ideas. The country’s blockchain industry and crypto industry has come at risk from a bureaucracy that does not understand it. But two big name supports are coming to its defence. Recently india plan to completed ban bitcoin.


India’s fraught blockchain industry has lastly got some solid provision to safeguard its survival, with a powerful industry evangelist suggesting the vision of a billion smartphones stand-in as gateways to the brave new world of decentralized finance. 


In this world, Wall Street's competencies will be obtainable to everyone, rendering angel investor Balaji Srinivasan, previously the chief technology officer at Coinbase Global Inc., the biggest U.S. crypto exchange about to go public. “We could turn each phone into not just a bank account but a bonafide Bloomberg Terminal," he inscribed on his statement. 


On Monday, the Sensex dropped from 1,708 points, it was the worst fall since 26 February, to end at 47,883.38, though Nifty closed 3.5% lower at 14,310.80. 


Traders through a protest against the Maharashtra government's choice to close all shops except those providing vital services. 


PMVVY is frequently compared to SCSS. While yields from SCSS and PMVVY are similar, experts usually prefer SCSS due to its lower tenure and better liquidity. 


Mobile banking has certainly arisen as a way to end financial exclusion, a long-lasting problem in all emerging markets. 


In India, payments value almost $60 billion are now taking place each month through wireless devices, three-fifths more than ATM withdrawals. A year ago, money was ahead by 37%. At this rate of digital acceptance, the lead enjoyed by checks power also soon vanishes. 


It is early days, but if they live up to their publicity, smart contracts could overturn traditional finance. 

likes 0 Likes | comments 0 Comments

Profile Image

Vandana Mrigwani

CBW - External Analyst


Disclaimer: The information is for informational purposes only.​ This advertisement does not constitute financial advice or any other advice. You should consult with a financial professional to determine what may be best for your individual needs. None of the information and/or content available through this advertisement is intended as an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any company, financial product, security or commodity. To the maximum extent permitted by law, we disclaim any and all liability in the event any information, commentary, analysis, opinions, advice and/or recommendations prove to be inaccurate, incomplete or unreliable or result in any investment or other losses. In Making the investment decision, investors must rely on their own examination of the issuer and the terms of the offerings, including the merits and risks involved. Investments are speculative, illiquid, and involve a high degree of risk , including the possible loss of investment.