Press "Enter" to skip to content

Bitcoin {BTC} ban dilemma: Another exchange from India ceases their operations as rumour of “draft bill” surfaces

Bitcoin

For now, Bitcoin rests at $10,629.15 according to the latest data on coinmarketcap. The price plummeted slightly, a rate of 0.18% was observed. Most of the altcoins in the market have been unable to stop fluctuating so far, as sellers and buyers compete. The circulating supply presently involves 17,831,212 BTC tokens.

The market cap of the king coin is at $189.530 billion. The trading volume recorded in the course of the past 24-hours is $16.240 billion. Cryptokart was an exchange based in India. Their services have been shut down, due to growing uncertainty of government officials towards cryptocurrencies.

Just a short while back a minister had stated that no ban has been implemented. Gaurang Poddar, the founder and Cryptokart had referred to this sudden exit via his LinkedIn page. He talked about how interest towards cryptocurrencies has gown down, and due to inabilities of the government, BTC and the rest will remain in the “grey” as of now.

Koinex had previously shut shop after RBI forbid all financial corporations to not be associated with bitcoin-related transactions. In fact, the cops of many cities are now giving special training to their officers so as to tackle scams related to cryptocurrencies.

India is well-known for being a corrupt nation-state. From lawmakers to autowalas, everybody is out to conduct scams and make profits. Instead of tackling the actual problem and trying to look for a solution, the politicians and the cops have become paranoid about Bitcoin.

LIBRA and Calibra won’t be unveiled in India, according to David Marcus. Zebpay had earlier shut down their activities, but then restarted the business in Singapore and Malta. Migration is the only way such companies can survive, when the home environment is hostile.

WazirX is a P2P exchange that is still quite popular in our nation. #IndiaWantsCrypto is trending on Twitter; if you want our lawmakers to pay heed to our demands, make your presence known.

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.