Exchanges in India Want to Challenge Crypto Crackdown of Reserve Bank

hasyu

Contributor
Exchanges in India Want to Challenge Crypto Crackdown of Reserve Bank

In India exchanges are thinking methods to challenge a new announcement from central bank which ordered organizations to stop working with companies that offer cryptocurrency services. Startups have cautioned about disturbances to their services if banking providers pull out of market. But at the same time declarations suggest industry is preparing to stand a legal challenge. Central bank of India publicized ban as previously reported. Coin secure chief operating officer Jincy Samuel said industry stakeholders debating the issue with groups such as the Blockchain and Cryptocurrency Committee of India and the Internet and Mobile Association of India.
They said to an online website news channel we along with other industries are in talks to see if they could help us in hearing at the Supreme Court to see if stay orders are possible on the current decision of the RBI. This will affect all crypto exchanges in country as that would leave users with no options.

#india #crypto #crackdown #cryptalks.org
 

Old Man Crypto

Expert chainblocker
That seems like positive news but it will be uphill battle for sure. Lots of regulations coming no,matter how things play out around the globe. Some will be good, some will be bad.
 

CryptoTC

Crypto Fat Cat
That seems like positive news but it will be uphill battle for sure. Lots of regulations coming no,matter how things play out around the globe. Some will be good, some will be bad.

Maybe. Who knows if governments will listen to their citizens? Some progressive countries see the growth opportunities. Some see bank challenges and less control and try to clamp down.

A solid middle of the road approach is needed.
 

The CC Forums

Admin
Staff member
That seems like positive news but it will be uphill battle for sure. Lots of regulations coming no,matter how things play out around the globe. Some will be good, some will be bad.

Maybe. Who knows if governments will listen to their citizens? Some progressive countries see the growth opportunities. Some see bank challenges and less control and try to clamp down.

A solid middle of the road approach is needed.

I see it as a positive. No one knows where it’s all going though. And the markets are shrugging off any good news and still stagnate or downward moves only. I think we’re going to see lots of regulations and tightening attempts before they start to get things right. Some will never get things right.
 

Old Man Crypto

Expert chainblocker
A solid middle of the road approach is needed.

When does that ever happen though? First they’ll have to spend millions on consultants and studies, then they’ll come up with regulations that no one likes. Seen it way too often in everything government does.
 
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