Everything you need to know about 2021, India Banned Cryptocurrency

India Banned 

Cryptocurrency

A bill passed to ban a private cryptocurrency. I know for a while you have gone under the shock and not in the state to understand the fact.

But, you need to know what the exact news is, and also I know there are lots of questions going in your mind.

 That is it legal or illegal in India? Can you attempt to do any transaction or not? As well as what about the investments?

So, just Relax yourself here in these articles we are gonna cover every aspect of the news.

Have you heard that the Indian government has ever confessed that a cryptocurrency like bitcoin or any other is a legal tender? No….

For the last 5 years, the government of India has been disclosing that any cryptocurrency is not a legal tender. In short, it means that the government of India is not supposed to guarantee any cryptocurrency.

Nowadays many of the people that are 50% are taking an interest to know what exactly the cryptocurrency is and trying to invest in all those cryptocurrencies.

You all know that the demand for cryptocurrency is increasing day by day and many of us have invested in those currencies isn't it?

The point is to be noted that the cryptocurrency ban news is not revealed by RBI, it's just got more popularity through the internet.

Here according to my viewpoint, you must not go under rapid or panic selling.

Now you all know that you're working under the world of decentralization wherein there's stand zero control, even if it is a Country, or any other organization or authority. 

Actual announcement

Globally many countries have taken a stand to ban cryptocurrency, but they failed in their strategy.

 

So, it results in the countries building up their Digital fiat.

Along with other countries, India is also trying to build its digital fiat.

According to the announcement by RBI, 

RBI declared that India is gonna launch its digital currency which is named CBDC i.e Central Bank Digital Currency.

We also need to appreciate the steps taken by the Indian government, as the upcoming years are fully digital-based.

I think I've cleared your every concept, Actually a right to ban cryptocurrency, India has banned it on the banking side I.e it acts as a Banking Ban. 

In India getting connected with trading is legal but there's no legal tender.

The point is that India wants to bring a bill or regulation about cryptocurrency.

Final words

Now I think you have cleared up your concept that there's no official news revealing cryptocurrency banned news.

India has only done banking bans.

So, please know your views on this report.

Stay united.