As the cryptocurrency market is getting crazy by the volatility caused by bitcoin cash, which has overtaken ethereum in the market capitalization. One big thing catched by eye. It is India, because the are heavy discusions regarding the bitcoin.
Several statements by representatives of the Reserve Bank of India (RBI) are currently giving rise to concerns that India plans to ban or at least more strictly regulate cryptocurrencies.
"Our current position with Bitcoins is that we will not use them for any payments and settlements ... but the cryptocurrency technology will not end there."
The central bank has recently expressed concerns about Bitcoin and other cryptocurrencies. Already in the spring there were rumors that a Bitcoin ban was pending.
The expecting decision will definitly cause one again a high volatility in the market.
Cheers, @raykroc
central banks not surprisingly show concern for their eventual extinction (as will happen as the currency becomes distributed and there is no need for a middle man (a central bank). i believe, at some point, depending on their grip on the government they can orchestrate the outlawing of the use of cryptocurrencies (example: China, Vietnam)
sept 4 2017 https://www.coindesk.com/china-outlaws-icos-financial-regulators-order-halt-token-trading/
oct 29, 2017https://tuoitrenews.vn/news/business/20171029/vietnams-central-bank-outlaws-bitcoin/42300.html
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thanks, for sharing the articles!
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Don't think currency itself can be banned due to the technology behind it. However they might ban exchanges and prevent BTC to INR conversions.
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