PocketBits CEO Releases Statement On RBI, Banking & Future Of Indian Cryptocurrency Ecosystem
I like the optimism in the statement from Sohail Merchant, CEO of PocketBits. It's a good exchange from the feedback I've received, and they've had a good run so far. At times like these it's important that crypto-exchanges communicate with their users irrespective of the size of their operations. As a cryptocurrency user from India, I'm glad exchange owners are communicating with end users.
It gives confidence to everyone associated with this industry.
Cryptocurrencies are here to stay and central bankers can't do much other than thwart attempts and slow down the process of adoption.
However, policies of banksters will always have an ill effect. They can cause a massive FUD and panic sell as we've seen time and again in India. Mostly surrounding RBI's illogical, unethical and unilateral ban on banks rendering services to crypto-exchanges.
Steemit users from India, please don't sell your Steem in haste and exit this platform. We may have a few dark days ahead but hopefully on 3rd July there will be some positive news as Supreme Court's vacation bench admits IAMAI's petition.
Please keep yourself informed with the correct information from the right sources. Don't let any misinformation guide you in your decisions.
I'm aware that deep down inside many crypto traders and Steemit users from India are worried about government policies, falling prices and FUD. Please know that you are not alone in this!
Readers from India don't give up hope on cryptocurrencies just yet. It's a long road and there will be many obstacles like the ones we're facing today. That's the nature of an industry that's revolutionary and is forcing change on archaic systems in place today.
Until then, sit tight with your tokens if you can afford to.
If you like my work kindly resteem it to your friends. You may also continue reading my recent posts which might interest you:
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Sitting tight @firepower! Thanks for the constant updates we are getting from your side. This year my whole focus has switched to content creation on STEEM. I am addicted! So, government's ban do not budge me. Max to max, I will have to change the country. I will do it if the situation demands. Haha! Thailand is cheaper and better :-P
But I believe in the system, we will get there eventually. They cannot ban cannabis and crypto-fiat transactions forever. :-D
Same here. Considering all possible options but I think we'll see things improve in the near future. Govt cannot run away from regulation forever. It's just a matter of time. As far as the market goes we'll just have to wait this bear run out I guess.
Regarding Thailand, I considered that as an option but long term visa is a bit complicated. If you find out the exact process for Indians lemme know.
Amen to that lol!
Sure @firepower. There are other countries like Vietnam and Combodia which are as good as thailand. Let me do some research and maybe I will make a blog for Indians on how to get settled in these countries. Cheers! :-D
Yes please! :D
The war on crypto is in full swing now. No sweat though, nothing is as powerful as an idea whose time has come. The bankers will lose this fight.
Absolutely right!
Just testing something :) tipuvote!
The Indian government needs to get there act together asap @firepower
No kidding! It's about time they did that!
A very special and very wonderful statement, my friend
Really good publishing, my friend
India is a very advanced country and supports development
As banks will stop providing services by 06th of July, the supreme court will overturn the ban by 20th of the same month.
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I hope for a positive outcome.