{"id":371691,"date":"2021-11-24T12:16:32","date_gmt":"2021-11-24T09:16:32","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/india-cant-decide-if-it-loves-or-hates-crypto\/"},"modified":"2021-11-24T12:16:32","modified_gmt":"2021-11-24T09:16:32","slug":"india-cant-decide-if-it-loves-or-hates-crypto","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/india-cant-decide-if-it-loves-or-hates-crypto\/","title":{"rendered":"#India can\u2019t decide if it loves or hates crypto"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_89 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6af4b6c8f1eb4\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6af4b6c8f1eb4\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/india-cant-decide-if-it-loves-or-hates-crypto\/#What_is_the_problem\" >What is the problem?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/india-cant-decide-if-it-loves-or-hates-crypto\/#What_does_this_mean_for_cryptocurrency_investors\" >What does this mean for cryptocurrency investors?<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#India can\u2019t decide if it loves or hates crypto<\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/img-cdn.tnwcdn.com\/image?fit=796%2C417&amp;url=https%3A%2F%2Fcdn0.tnwcdn.com%2Fwp-content%2Fblogs.dir%2F1%2Ffiles%2F2021%2F06%2Fewan-kennedy-0h0mVfKbyNw-unsplash-e1623219851619.jpg&amp;signature=787908ba964284c77d882349acc70eac\" \/><\/p>\n<div>Cryptocurrency investors in India hit the panic button last night as the winter schedule of parliament, starting from November 29, was published. It indicated that a new cryptocurrency bill will be tabled for discussion, which might but a ban on cryptocurrency trading in the country.<\/p>\n<p>The de<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">script<\/a>ion of the bill said that it \u201cseeks to prohibit all private cryptocurrencies in India, however, it allows for certain exceptions to promote the underlying <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> of cryptocurrency and its uses.\u201d It also indicated that the Reserve Bank of India, the country\u2019s central bank, might issue an official digital coin in the future.<\/p>\n<p>While this sounds scary for investors and cryptocurrency exchanges, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/vinaykesari\/status\/1463152762179375106?s=20\">many<\/a><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/NischalShetty\/status\/1463157339972939784?s=20\">folks<\/a> pointed out that the summary resembles the previous description of the bill, and it might not be reflective of the actual content.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_is_the_problem\"><\/span>What is the problem?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In the last week, several authorities have called for regulation on cryptocurrencies. Jayant Sinha, the chairman of the parliamentary committee on finance on cryptocurrencies <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CNBCTV18Live\/status\/1460247142556000256?s=20\">told CNB TV18<\/a> that while\u00a0exchanges have claimed to have self-regulatory practices, they have to prevent money laundering through digital currency.<\/p>\n<p>Speaking at Sydney Dialogue, an event about emerging technologies, PM Narendra Modi cautioned about the misuse of cryptocurrencies.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Take crypto-currency or bitcoin for example. <\/p>\n<p>It is important that all democratic nations work together on this and ensure it does not end up in wrong hands, which can spoil our youth: PM <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/narendramodi?ref_src=twsrc%5Etfw\">@narendramodi<\/a><\/p>\n<p>\u2014 PMO India (@PMOIndia) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/PMOIndia\/status\/1461180904643072003?ref_src=twsrc%5Etfw\">November 18, 2021<\/a><\/p>\n<\/blockquote>\n<p>All hope is not lost though. A report from <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CNNnews18\/status\/1463364400304345090?s=20\">News18<\/a> suggested that government doesn\u2019t plan to put a blanket ban on cryptocurrencies \u2014 but just wants to put some guardrails in place.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_does_this_mean_for_cryptocurrency_investors\"><\/span>What does this mean for cryptocurrency investors?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Apart from local exchanges, foreign companies like Coinbase and Kraken, will need to wrap up their operations from the country if the bill is passed. India\u2019s central bank has been against cryptocurrencies for the last few years, issuing circulars to banks to stop dealing with crypto businesses.<\/p>\n<p>After the parliament\u2019s winter schedule was announced, several investors started selling their coins. Cryptocurrency exchanges have urged people to stop panicking as there\u2019s no final law in place.<\/p>\n<p>Ashish Singhal, Founder &amp; CEO, CoinSwitch Kuber, a company backed by a16z, said investors shouldn\u2019t make rushed decisions:<\/p>\n<blockquote>\n<p>The crypto industry is hopeful that the government will involve the industry stakeholders while drafting the bill. At CoinSwitch Kuber, we shall follow the directions provided by the government. As of now, I urge all crypto asset investors in the country to remain calm, do their own research before arriving at a rushed conclusion. Investors should wait for a government statement on this matter and not rely on secondary sources of information.\u201d<\/p>\n<\/blockquote>\n<p>Nischal Shetty of WazirX <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/NischalShetty\/status\/1463358878993764353?s=20\">tweeted<\/a> that law markers understand the market with more than 15 million cryptocurrency owners in the country, so there\u2019s no need to panic.<\/p>\n<p>India\u2019s crypto industry has been thrown into a frenzy many times as the space is unregulated and there\u2019s been a fear of a sudden shutdown. If there\u2019s no blanket bank on cryptocurrency, this proposed bill will hopefully provide much-needed stability and a framework for exchanges and investors.<\/p>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more like this article, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/technology\/\" target=\"_blank\" rel=\"noopener\">Technology category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/thenextweb.com\/news\/india-cant-decide-if-it-loves-or-hates-crypto\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#India can\u2019t decide if it loves or hates crypto&#8221; Cryptocurrency investors in India hit the panic button last night as the winter schedule of parliament, starting from November 29, was published. It indicated that a new cryptocurrency bill will be tabled for discussion, which might but a ban on cryptocurrency trading in the country. The&#8230;<\/p>\n","protected":false},"author":1,"featured_media":371692,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/img-cdn.tnwcdn.com\/image\/hardfork?filter_last=1&fit=1280,640&url=https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2021\/06\/ewan-kennedy-0h0mVfKbyNw-unsplash-e1623219851619.jpg&signature=7d5f84c5088af660c8e927d1bd887fad","fifu_image_alt":"","footnotes":""},"categories":[18],"tags":[],"class_list":["post-371691","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/371691","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=371691"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/371691\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/371692"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=371691"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=371691"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=371691"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}