Quote from: BChydro on April 05, 2018, 02:15:52 PM

Quote from: markhudson2002 on April 05, 2018, 01:34:00 PM

Today has been the first bi-monthly Monetary Policy Statement of 2018-19 of RBI, where the central bank has given a 3 months period to sever their ties with the entities using virtual currencies.

So what happens to the users in India, the exchanges will be shutting their doors just like China in three months time, that is not a good news either for bitcoin because two countries with the two biggest population have put some regulations so that people who are interested are not able to trade in crypto currency, which i think is against a democracy like India.

Exchanges still are not going to shut down as only INR withdrawals and deposits have been shut down. Exchanges have found their way out by introducing crypto to crypto trading pairs. This will remove the use of INR from trading but yes this is a great problem for sure. Moreover these are obvious signs that government is not ready to welcome this great technology any time soon into the Indian markets. Don't know why India is going absolutely in a separate direction from rest of the world.