Bahrain Could Squeeze India to Re-Open its Crypto Market and Legalize Bitcoin !
As per the request of the Reserve Bank of India, the country’s central banking institution, local banks have been disallowed from dealing with crypto businesses such as Bitcoin exchanges since 2018. With no immediate plans of the Supreme Court of India to reverse the decision of the country’s central bank, crypto companies have been pushed out of the local market. Consequently, Bitcoin investors have lost access to fiat-enabled exchanges and have resorted to peer-to-peer exchanges to convert cryptocurrencies, which could be impractical and unsafe, especially for face-to-face deals. However, a recent decision of the government of Bahrain to encourage cryptocurrency firms in India to come into the country and operate their businesses with proper resources could pressure India to potentially legalize and open its cryptocurrency market in the future. Bahrain is Putting the Pressure on India in Crypto On March 3, The Economic Times reported that Bahrain has invited ...
Comments
Post a Comment