Author Topic: Decline in cryptocurrency trading amid Indian crypto exchanges  (Read 1242 times)

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Offline uzairTopic starter

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The trade volume is specklessly diminishing among the Bitcoin and other cryptocurrency trading platforms, for instance the percentage is evidently more than 90%. The relapse is after the regulatory frameworks which were pressurized on the cryptocurrency exchanges in India.
The RBI, Central bank of India has come up with staggering strategy that is limiting the trading within the locality. However, this is not supposed to in case the country wants to expand the business.
The current dealing in Bitcoin exchange platform of India, has bounded between 300 to 400 BTC daily to the sudden drop of 30-40 BTC per day.
The fact which fears out the citizens to invest in cryptocurrency is the capital gains which the Income Tax department authority has taken into public action.
Sometime ago, customers also had to restrict themselves from using credit, debit and prepaid card transactions whichever included bitcoin and altcoins. These steps were followed right after the severe action taken against the Bitcoin transactions with credit cards. However, regarding the transactions, government had requested the companies dealing with cryptocurrencies to integrate know-your-customer (KYC) and anti-money laundering protocols to safer the transactions.
Dr. Amit Lakhanpal, Founder of Money Trade Coin Group had supported all the regulations and protocols from its nascent stage till date. Also, he has made an appeal to the government and the country’s Supreme Court to legalize the digital coins in for daily use. Meeting all the demands, the coin has legal rights to trade with cryptocurrency.
Meanwhile, the confused crypto-holders will get a way to habituate cryptocurrencies in their daily lives.

 

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