India is well known as the largest democratic state but also for his long term duration to make decisions. After the ILTES (iltes.in) congress the surpreme court lifted the Bitcoin Ban by ruling that a bank do not have to do the job of government. SO RBI was set away from closing crypto related bank accounts for exchanges. After a little uncertainy first crypto exchanges started their services. So this young economy will grow fast.
The trading volume of cryptocurrency in India recorded a 400% jump in the past few months during the nationwide lockdown due to the ongoing Covid-19 pandemic. The boom in crypto trading is said to have increased after the Supreme Court lifted the ban at the start of 2020 as a few players and retail investors entered the cryptocurrency market within the past few months according to a The Hindu report. Former CEO of Zebpay Aeet Khurana, also the head of the blockchain committee of the Internet and Mobile Association in India said:
“Along with the lifting of the restrictions on trading, the lockdown has also pushed people to stay at home and many people are spending more time on their desktops and many of them are trading more. Trading volumes are quite robust. Daily crypto trading volume in India maybe USD10-USD30 million.”
As we can see India could become a leading part in the Bitcoin economy. It is the most valuable thing for people living in poverty. Lets hope the good mind is there. Read full article here