On Friday January 11, Morgan Creek founder and partner Anthony Pompliano published a tweet about the recent move by Indian banks to prevent Bitcoin trading. An international speaker and author who loves blockchain and crypto world. Hey Great article, i was looking for one card we use in Ghana , all these cant be used in Ghana. Save my name, email, and website in this browser for the next time I comment.
A hostile regulatory environment
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Banks in India: If you use Bitcoin your account will be closed
Social media reports show that banks in India are threatening customers trading Bitcoin and other crypto currencies with closing their accounts. This move is the latest step from the banking sector in a country where crypto currencies seem almost forbidden. On Friday January 11, Morgan Creek founder and partner Anthony Pompliano published a tweet about the recent move by Indian banks to prevent Bitcoin trading. The banks warn their customers not to trade in crypto currencies, otherwise they risk closing their accounts. The announcement even stated that the banks do not need to send further correspondence before closing customer accounts. Indian banks, which now inevitably take our consent by reserving the right to close our accounts without further notice if we deal with Krypto currency transactions.
Measures to contain Bitcoin
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The Bitcoin industry in India was once growing at a terrific rate as users were flocking to this digital currency to take advantage of its rapid price appreciation. The latest series of events paint a bleak picture of Bitcoin feee the Indian scenario.
The Indian government is reportedly considering a blanket ban on the private use of cryptocurrencies over. The committee is considering setting up a legal framework that forbids the private use of cryptocurrencies in India, but encourages the growth of distributed ledger technology at the same time. Additionally, the Indian tax authorities have served notices to thousands of cryptocurrency investors carrd that they have skipped paying taxes.
Not surprisingly, Indian cryptocurrency exchanges have been in hot water thanks to such a hostile regulatory environment. Zebpay was hit hard as banks decided to cut themselves off from any crypto-related transactions.
Such a move dented the confidence of cryptocurrency exchanges in India, who began to fear that they might be pulled up on some pretext or the. As a result, the Indian cryptocurrency industry is tree in the best of health, as evident from free bitcoin debit card india declining trading volumes. Industry estimates suggest incia there were five million cryptocurrency users in India in Bitcoij this year spread across 10 exchanges.
According to the latest reports, volumes are now down significantly. Disclaimer: Buy Bitcoin Worldwide is not offering, promoting, or encouraging the purchase, sale, or trade of any security or commodity.
Buy Bitcoin Worldwide is for freee purposes. Every visitor to Buy Bitcoin Worldwide should consult a professional financial advisor before engaging in such practices. Buy Bitcoin Worldwide, nor any of its owners, employees or agents, are licensed broker-dealers, investment advisors, or hold any relevant distinction or title with respect to investing.
Buy Bitcoin Worldwide does not promote, facilitate or engage in futures, options contracts or any other form of derivatives trading. Buy Bitcoin Worldwide does not offer legal advice. Any such advice should be sought independently of visiting Buy Bitcoin Worldwide. Only a legal professional can offer legal advice and Buy Bitcoin Worldwide offers no such advice with respect to the contents of its website.
Buy Bitcoin Worldwide receives compensation with respect to its referrals for out-bound crypto exchanges and crypto wallet websites.
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Copy link. In the rainy season from July to October, about 2,mm of rain falls on the west coast and mm annually in the highlands of Dekkhan. Read Complete Crypterium review. You can use Bitcoin also, but Dash transactions are so much faster and cheaper. What inxia A coalition of interest groups questioned the decision and the matter remains unclear until further notice. Signup to our Newsletter. Uquid is a multi- cryptocurrency debit card issued by a UK-based company.
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