The stock exchange is threatening to die on the Indian crypto market?
Home News Threatens the stock market die on the Indian crypto market?
Matthias Nemack –
The penalties for ICOs and the crypto-trade in India, is that more and more crypto exchanges have to close their doors.
Soon, no opportunities for crypto trading in India?
In the second week of June, there had been reports of various Indian banks, currencies, customers, a waiver of Crypto and the Bitcoin purchase recommend. In the time it came for investors, then even “thicker”. Because last there were on the part of the government of the country is increasingly active, and threats of, the place will soon be banned Completely close. Up to ten years in prison are for investors and companies in the conversation, invest in the opposite of the laws still come in Ethereum, BTC and other Coins. Thus, the Indian government chooses a different path than many other countries, the search gradually to the options for a contemporary regulatory. The messages of the government was in some ways the logical consequence of announcements made in the spring of 2018.
Three major exchanges have closed platforms
At that time, the Central Bank of the country’s banks and financial services providers had prompted the collaboration with crypto-currency providers and Blockchain services, to immediately discontinue. Early first companies responded in anticipation of high penalties. In the spring of 2019 Coindelta was the next crypto exchange, which ended the trade. The problems on the subject of the regulation had forced the competitors Zebpay to the task. With Koinex the next operator is included in the list. Much to the Annoyance of Indian investors, the Win, of course, in turn, only too happy to the current crypto – boom – especially in the enormous Bitcoin would benefit. The Koinex Management announced in its opinion, the “regulatory pressure” from the state as the cause for the closure.
Will make India’s government more bans?
For Fans of the crypto-currencies and Blockchain sad times had dawned in India. In particular, the still existing uncertainty depressed the stock exchanges and Blockchain-companies in the country. Also, for Facebook will be the Libra in India is a Problem. For this reason, Facebook chief Zuckerberg will be also constantly in contact with government representatives. Koinex customers can withdraw their reserves until the middle of July, or on external Wallets and other trading venues remit. If the stock exchange makes sense, it can be doubted against the Background of the probable aggravation of the legal situation. Still a lot but seems possible. Perhaps the “case, Facebook can put” positive signals. The prohibitions are, of course, also for the Social media company’s Dilemma. Because so many millions of people are excluded from the Service.