Indian Cryptocurrency Market On the Rise Despite Government Ban

[kreslik.news]

India is a mammoth market for cryptocurrency, once responsible for 10 percent of all Bitcoin transactions, but the country’s central bank banned financial institutions from processing the orders of cryptocurrency exchanges on the 4th of April 2018.

However instead of harming the industry, trade volumes and prices have actually surged in the month since the decision, according to a report in Reuters. This can be explained by the three-month window that the Reserve Bank of India has given to businesses to comply with its ruling; people are rushing to take advantage of their ... (read more)