With the ban on cryptocurrencies implemented by the former Indian Finance Minister, the attitude of other countries in the world to cryptocurrencies is much milder. For example, the United States and the European Union are not busy implementing the ban, but on the cryptocurrency, open thematic meetings to analyze the advantages and disadvantages of the current cryptocurrency. For the discussion of deficiencies, form an effective solution. So in any case, the cryptocurrency ban imposed by India is somewhat arbitrary at present.
After the ban was implemented, the volume of cryptocurrency transactions increased. The cryptocurrency, which was previously lower in price, was also rising. For example, the current price of Litecoin rose by 1.88% (data from litecoin to btc chart). This is not surprising, India gave the cryptocurrency a three-month "end period". Let the exchange end the relationship with the cryptocurrency service operator. Then there should be a lot of transactions during this time.
It took only one month for the time, so investors can still convert the Indian rupee into a cryptocurrency. And there is news that after the ban is officially implemented, people can still exchange other currencies through private trading platforms.
With the recovery of the cryptocurrency market, many new investors have joined in India, hoping to make a profit through this cryptocurrency price.
For the "ban", most exchanges in India and the public are not very satisfied. Therefore, successive cryptocurrency exchanges filed a lawsuit in the Delhi High Court, requesting the Reserve Bank of India to withdraw the previous ban.
The current ban is only for exchanges, which means that cryptocurrencies are legal. Then, through the personal trading platform, the cryptocurrency can still be traded. After that, whether the Indian side will consider the international economic situation and withdraw the ban, let us wait and see.
ETH prices are also rising (from ethereum to usd price history)
