BITCOIN BAN 💔IN INDIA

*India Approaches to Regulate Cryptocurrencies* 

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India, home for more than 10 Crore Crypto owners has finally taken a step towards the new technology. In the upcoming winter session, the Government of India is set to discuss and regulate Cryptocurrencies.

But what has actually created the fuss is that GOI also plans on banning Private Cryptocurrencies*and allowing a 'few'. This has raised a lot of eyebrows. 

 But before discussing if this is right or wrong, let's understand what private cryptocurrencies are?

Private cryptocurrencies are those which function on a Blockchain ledger where the transactions and verifications are made in private, Whereas in cryptocurrencies like Bitcoin, Ethereum, etc are actually public cryptocurrencies where the transactions and verifications are actually available in public while also maintaining the privacy of the user. 

So it can be deduced that the ones who have invested in stable coins have nothing to worry about. 

The news you're watching, where the crypto is being reported, high chances are that they don't fully understand the technology and hence they are jumping into conclusions, afterall we all know that the media is actually in a business of showing sensationalism instead of boring truth. 

The borderline fact is that Blockchain and crypto is a pretty new concept for everyone and for a country to adopt a new technology it takes time. There might be changes made in the future but as of now India stands positive towards cryptocurrencies and could possibly become more approachable in the future.

Thank you 😊