Skip to main content

Reserve Bank of India banned banks from allowing people to transfer money from their bank account into Bitcoin wallets

The RBI banned Bitcoin on Thursday, effective immediately. if your banks, e-wallets and any other entities under-regulated by RBI are not allowed to sale or purchase of cryptocurrencies, individuals will not be able to transfer money from any bank account in India into a Bitcoin wallet like Bitpay, nor will they be able to fund purchases of cryptocurrencies on an exchange. They'd have to figure out a way to pay people in cash, meaning if there is a Bitcoin market in India, it is going to move underground.



India is't a big market for crypto, so Bitcoin was down only 2% today and probably not due to the RBI's announcement. Other countries like China, Singapore, Japan and the U.S. are the biggest markets for cryptocurrencies.
Labels:

Comments

Post a Comment

Thanks for your opinions

Popular posts from this blog

Best Free Antivirus 2016 - Top 5 Software for PC, Mac and Android

1. Bitdefender Antivirus Free Edition     " great if you want a strong, silent, and free antivirus solution. "   FEATURE: Bitdefender Anitvirus Protection Antirootkit Protection  Real-time Virus Protection Cloud-based learning B-have intrusion detection Automatic Updates                                                                                          2. Panda Free Antivirus 2016    "It is lite watt on your computer" FEATURE: Panda Antivirus protection Anti-malware protection ...
Post a Comment
Read more

Jolla finaly want to lanched there feature phone in indian market - Sailfish OS for smartphone

Jolla is try to start there business in Indian market with there new Sailfish OS for 4G feature phones. They also made the downloadable "Sailfish X OS" for smartphones. The company talks with a large telicom operator and Original device maker (ODM) to introduce the V3 version 4G featurephone in india. The Sailfish Operating system for the 4G feature phone supports Qualcomm's 205 mobile platform, and chipsets form Media-Tek and Spreadtrum. MediaTek hasn't brought any 4G feature phone specific solution in marcket, But company's low end smartphone prossor can be cusmised for 4G feature phone with SailfishOS. Jolla is also driving discussions around 4g feature phone in other contries globally. Jolla doesn't have an engineering team in India, and it is still in a business development phase. "But the feature phone proposition is ready, so if this scales to real business operations, then, of course, we will need to have our own engineering team to su...
Post a Comment
Read more

political-leaning advertisers to verify their identity on Facebook

CEO Mark Zuckerberg published a post announcing these changes today, along with news that he and the company support the proposed Honest Ads Act. Although Facebook had never explicitly said it didn’t support the legislation, which would regulate online political advertising, it was assumed it might not want regulation in the space. Zuckerberg writes, “Election interference is a problem that’s bigger than any one platform, and that’s why we support the Honest Ads Act. This will help raise the bar for all political advertising online.” All these changes come as Facebook deals with global election interference launched from its platform. Russia’s Internet Research Agency, for example, managed to launch thousands of fake accounts that were used to promote divisive issues during the 2016 election. Though those were native posts — not ads — today’s changes speak to two ways Facebook is trying to combat similar interference. Allowing issue-based ads to be published by unconfirmed partie...
Post a Comment
Read more