Reserve Bank of Indian unofficially banned cryptocurrency because RBI forcefully stopped transaction of Banks with any Crypto trading platform and they also told to them if any Bank found dealing with any trading portal then they will be official banned in India, as right now Bitcoin and other altcoin is falling with huge percentage and after looking at popularity of cryptocurrency Indian, this will cause another crash in April 2018, which means Bitcoin expected to dropped below $5K USD in few weeks, as along with this news there are some rumors already spreading that RBI launching their own Digital Currency very soon, which will work similarly like Bitcoin in terms of transaction and for security reason there will be difference in Platform or technology i.e. they will not going choose Blockhain, as with some developers they will create their own platform and after this news we got two news.
RBI Bans Bitcoin
few day ago RBI quoted everything will be under control in 3 months, which in investor have 3 months to cashing out their money but don’t wait for 3 month as per my suggestion you have to take all money out because RBI is currently under process and every bank is going to associated with process as with help of Aadhaar card and pan card with e-KYC all transaction will be tracked by government, as we know it very hard time to cashing out because cryptocurrency is dropped with huge percentage and as per news Ripple is one of most popular coin in India as per trading portal report and top news sites highest number of Ripple holder is from India, but many of people invested their money when Ripple was above $1.2 USD and now Ripple is trading with price $0.48 USD, so investor will suffer -61.6% loss, but instead of losing all money remaining 40% can be saved and after ripple second most traded crypto is Bitcoin which is right now highest market cap holder cryptocurrency having millions of investor who currently facing loss in investment.
the most obvious reason behind this ban is black money and saving Tax money, as after banning old currency like Rs.2000 & Rs.500 modi wanted India to become Black money free India, but right now Government focusing on Digital currency so Citizen will do online payment which can be tracked but after launching cryptocurrency which keeps secret your account balance and also hide how much money you have just because it exchange money into another currency which has different value and many people Indian citizen who haven’t pay Income Tax Return just because to invest money in Cryptocurrency and along with this there are many fraud & hacking report are out in which million worth Bitcoin and other crypto are stolen, but in other side there are lots of product or company who fooling people in which they giving offer like Double money in one month by promising user money will be invested in cryptocurency and then their office is disappear and because of investing in crypto is not legal in India, so Police also not involving this case filled by people who facing fraud and people who already know who to invest in crypto their yearly income is also hidden, so considering this facts RBI Bans Cryptocurrrency in India.
Cryptocurrency News & Update
Amit Bhardwaj famously know as Bitcoin Guru is arrested Today who scammed Rs.2000 Crore in Maharashtra state only and more report will be out after investigation from Police and per report their are chance he has scammed people in trading and mining for nearly Rs.13000 Crore, which is really huge report.
Bitcoin is Going to Collapsed by Huge Percentage because as per report Asian hold more number of Bitcoins, now bitcoin is trading at $6500 USD.
Till Now Over 370 Crore Transaction has been done in Cryptocurrency Exchange.
Indian Central Bank Partial Banned Cryptocurrency & in 3 month All Transaction will be paused.
RBI is expected to launching First Ever Indian Digital Currency very soon.
Amit Bhardwaj Join club of Fraudster with Nirav Modi & Vijay Mallya.
RBI Forcefully Banned Cryptocurrency in India.
RBI Warned Indian Bank not to involved in Cryptocurrency Transaction otherwise action will be taken.