India Banning BitCoin 2021

India Banned Bitcoin

India is thinking to ban bitcoin and bring its own national digital currency.

Should we worry about the fact that countries think more and more
about introducing your digital currency?

Cryptocurrency and Regulation of Official Digital Currency Bill

As I have already written more than once, we have a digital world, too without digital currency, so of course, any country can introduce your digital currency and it will probably be a great solution.

However, if some countries want to ban Bitcoin, it will be unfavorable for Bitcoin for a short time, however, if we look at the long term it will not matter much because Bitcoin is now global and has adoptions at a record level.

India has been struggling for a long time to ban Bitcoin. 2018 Sad India imposed a ban on bitcoin, although the ban was incompatible with the constitution so they had to suspend the ban, apparently, India depends very much on the fact that Bitcoin is removed, only how they want to do it since the network Bitcoin cannot be blocked, it is decentralized, which means there is no advice which would manage this network, the country and banks will ban the use of Bitcoin or other cryptocurrencies or other assets however the network itself is not likely to be on destroying or even block the present moment.

We already had a similar situation when China banned Bitcoin, and today China has a very high crypto mining rate and the constantly expanding entire infrastructure of cryptocurrencies, exchanges, companies.

We will be looking at all the action of the Indian Government and see where it takes them we are waiting here, of course, for the moves of other countries in the world on this issue, Thank you very much for reading this article and best regards.

Leave a Reply

Your email address will not be published. Required fields are marked *