Post
Topic
Board Bitcoin Discussion
Re: Cryptocurrency Virtually Outlawed in India as Supreme Court Backs Ban
by
Tankdestroyer
on 07/07/2018, 23:53:20 UTC
This is not a ban on cryptocurrency, just a restriction on banking services available to crypto-related businesses.
It just shows how banks(some of them) fear that bitcoin will take away a lot of profit from them. I do hope they will follow Switzerland's move to take advantage of crypto(by liberalizing cryptocurrency banking access of crypto-related business) instead of trying to ban it.
Unfortunately, people are concentrating their effort on fighting the RBI decision, with really no chance of success rather than putting pressure on the parliament in creating a legal environment for cryptocurrencies.
The parliament will create a legal environment for cryptocurrencies if they really want to, whether they like it or not(and vice-versa). Thus, I see no reason for them to pressure the parliament about it.