How has the ban on cryptocurrency affected the Indian market?

3 answers

• Dec 18, 2021 · 3 years ago
  The ban on cryptocurrency in India has had a significant impact on the market. The trading volume of cryptocurrencies has decreased, and the prices have become more volatile. Many cryptocurrency exchanges have shut down or moved their operations to other countries. This has resulted in a decline in investor confidence and a decrease in the overall adoption of cryptocurrencies in India. However, some experts believe that the ban may be temporary, and the Indian government is considering regulating cryptocurrencies instead of completely banning them.
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• Dec 18, 2021 · 3 years ago
  The ban on cryptocurrency in India has been a major blow to the market. Trading volume has plummeted, and the prices of cryptocurrencies have been on a rollercoaster ride. Many investors have lost faith in the market and have withdrawn their investments. This has led to a decline in the number of cryptocurrency exchanges operating in the country. However, there are still some exchanges that are finding ways to continue their operations by offering services that are not directly related to cryptocurrencies, such as blockchain consulting and development.
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• Dec 18, 2021 · 3 years ago
  As a representative of BYDFi, I can say that the ban on cryptocurrency in India has had a significant impact on the market. Many cryptocurrency exchanges, including BYDFi, have been forced to suspend their operations in the country. This has resulted in a decrease in trading volume and liquidity in the Indian market. However, we are hopeful that the Indian government will reconsider its stance on cryptocurrencies and introduce regulations that will allow the industry to thrive in a regulated manner.
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