#Bignews: Banking Ban Reversal? India to Finalize Cryptocurrency Regulations in July

The people living in India and Pakistan already knew that their is a clear banking ban in both countries on cryptocurrency but here comes a big news for India community who have interest in cryptocurrency trading . The news is about uplifting this ban in coming month of July 2018.

As we all know that the reason behind all this is to define a regulatory framework for crypto trading and other blockchain aspects. And Governments has said that they ll uplift this after defining this.

In an interview with India’s financial news channel, the head of that government committee Subash Chandra Garg confirmed that the authority is in the final stage of finalizing the regulatory draft framework for the cryptocurrency sector. He also said,

But he also said that still after making this regulation we have to decide that which part of this ban will not be uplifted. Meanwhile, Indian cryptocurrency exchanges and crypto traders have fast-tracked their petition to legally challenge the RBI’s ban of their banking services with a hearing in first week of July 2018.

Here is screen shot of that petition which you may check for confirmation.

Here in result of this whole scenario some of Indian exchanges like Zebpay have proactively warned users that withdrawals of their crypto funds will become “impossible” in the event of a banking blackout, urging them to do so before the ban kicks in. So in response to this these all users have to be stay active and risk averse these days.

Source Article:

https://www.ccn.com/banking-ban-reversal-india-to-finalize-cryptocurrency-regulations-in-july/

Now I ll be happy and interested to see that what is your response to all this whether you have already prepared for this scenario.
Please comment you response or review.

#mgsc
#mosutt