Indian cryptocurrency users are taking the internet to express their disagreement over the recent ban by the country’s central bank. Rather than let the ban take effect, Indian’s are calling on the government to motivate the new ecosystem which can be beneficial to India.
The Indian cryptocurrency community has responded immediately to the recent stance on the Reserve Bank of India (RBI) which required all banks and financial institutions to stop operating cryptocurrency transfers. Investors and daily users have taken it upon themselves to voice out their opinion on different social media platforms to state the issues in the central bank’s strategy.
More than 16,000 Indians have even effectively marked a change.org appeal to that was ignited immediately after the bank’s announcement. Issued to the central bank, including the Prime Minister of India, the appeal draws the attention of the country to come up with a framework that permits cryptocurrency development to grow rather the impede it. It highlights to unsuccessful trials by cities around the world to bank Uber as an example of why it will be ineffective. The writers of the appeal went on to highlight the pretense of the central bank for thinking about delivering its own cryptocurrency.
The appeal entreats the Indian government’s need to enhance the economic status and orders that the nation does not chase away investors with rigid regulators. It focuses on the way that the present CEOs of both Microsoft and Google are of Indian descent and could have established local internet firms if given the possibility, quietly cautioning that the future age of tech ability may leave the nation.