The central bank of the government of India, have forbidden local banks to negotiate with cryptocurrencies, bringing this as a consequence a totally different response to what was expected, since the volume of trading in that country increased bringing with it an upward trend. There is a positive sentiment in the industry, while the government prohibits banks from being used as channels for cryptocurrency transactions.
However, what people are doing is moving to the exchanges to buy crypts and to keep. So I say it's stupid, because really China last year really did the same thing and that caused Bitcoin to reach record highs. In fact it seems that this type of stock causes a bullish movement in the market. Unfortunately, many governments do not like the implementation of cryptocurrencies because their illicit activities such as money laundering and financing of mafias and terrorism would be ruined, for this reason they always seek to censor cripto, but fortunately, cryptoactives always look for a way to brandish and expand.
I want you to leave your opinion on this post, it really seems to me that governments should look for ways to try to govern with a more transparent system and always be with current trends.
