A Big Door Closed But Another Window Opens

[TomPluz]

On the door, I am talking about China and its recent decision to maybe fully implements its cryptocurrency ban decision already made years ago and also the possible cracking down of Bitcoin miners resulting into many miners to relocate somewhere else away from this control-freak country.

The window is India. For the past many years, this country could not decide once and for all whether to follow China's ban or allow cryptocurrency albeit a strictly regulated environment - I think the latter is winning based on some news coming from the country.

We are hoping that eventually the India market - which is really HUGE - can be opened legally soon and this can be inspiring other countries who are still doubting on the viability and economic benefits of the blockchain and cryptocurrency to also take a look.

[Master107]

Who knows India will be the next China (in terms of economic growth through crypto).

Well, I'm pessimistic about the recent cryptocurrency banned of China. As far as I know this looks similar from the past but still some Chinese crypto enthusiasts continuesly access and use crypto.

If things might change because of strict Chinese government policy towards crypto. And India is open hand to start and pursue educating their citizens. It is possible that India is the next China or better than China in economic business and crypto growth.

[nicecrypto]

I hope India is able to make up its mind and take that bold step in legalizing cryptocurrency but I take is that we have other countries that do not have all these restrictions on cryptocurrencies and are more into green energy, why ain't they into bitcoin mining whilst cutting the monopoly of china? I hope that sooner we will see all this happen.

[robert20]

Indian economy is still not that much stable like china. China has a very good GDP and their economic conditions are one of the top in the world. But in India many people are still living under the poverty line. Most of the people are not really educated about the real use of crypto. Most of them are here only to trade earn and then cash out. But there is a few group of people aho are trying to promote crypto in India.

[pealr12]

It is the way of life, one way close another will only, China can keep playing their cat game of always banning crypto,  the intentions of the Chinese government are not pure, I can't seem to understand why they are doing this all the time.

[vegasus]

When it meets with the country's regulation, it may be quite difficult to even push the government to legalize crypto.
Well, as long as I know, in China, is it only forbidden for the government officers to play in crypto?
If yes, it may be still hoping that crypto can really be a positive trend again.

[Debasco]

That it's one thing about life, once a door close another open, because necessity its the father of invention, am not surprised about that.

[trauchot]

From the very beginning, China was making fud about cryptocurrencies but people still use cryptocurrencies in China, and of course in China there have been a lot of problems with the use of cryptocurrencies lately, but I think after a while everything will be ok as it was before, so we just need to wait and about India, of course, there will be no such amount of investors and money from India as from China.

[Fenix]

As far as I know, only cryptocurrency mining is prohibited in China, its circulation in the country is still free. Banning mining will have little impact. Miners have already been under the possibility of such a ban since 2017, and many have already left the country.
As far as India is concerned, I am not that optimistic. We need to wait for the government and the legislation of this country to make a final decision on the legalization of cryptocurrency. For too long they have been thinking about the possibility of a complete ban on the circulation of cryptocurrency.

[KryptoBull]

I think India should focus on solving the problem with the pandemic, then crypto problems. FUD is just a way for whales to manipulate the market, and this breaking news is also aimed at FOMO. I only refer to the news for entertainment, do not use it as an investment suggestion. And I still think the bullrun is still going without any positive news.

[fallenangel1789]

I guess Indian Central Bank will prepare a new ban that will be compatible with the Law. The danger is still there.

[alltalk]

Who knows India will be the next China (in terms of economic growth through crypto).

Nothing is impossible but I don't think India has the same power as China right now. Even India can be the next China, it should take a long time, probably in the next many years in the future.

Well, I'm pessimistic about the recent cryptocurrency banned of China.

China is likely playing with us, it is the same issue as in the past. China government announces crypto ban once there is a significant improvement in crypto market. Then, they will announce again the revocation of crypto ban if they think it is already enough to influence the crypto market.

[Paglamon]

I think the development of the cryptocurrency industry is possible. When China decided to ban cryptocurrency, India also decided to ban cryptocurrency. I don't care about this news. It will bring great results for the cryptocurrency market. Which, of course, made the video an overnight sensation. Because no country's government can control cryptocurrency. Cryptocurrency transactions will not be stopped at the initiative of the government of any country. It is most suitable for investment at present.

[Alcor]

Well, in fact, these predictions are already coming true. The People's Bank of China has announced the illegality of all transactions in cryptocurrency, and we hear from the Government of India their intention to legalize cryptocurrency. Cryptocurrency is developing rapidly, new and very useful areas of their application are emerging. Even at the state level, they do not know what to do in relation to it. Therefore, the current decisions are not final. Everything will still change depending on the role that cryptocurrency will play in the future.

[Pitter]

Indian economy is still not that much stable like china. China has a very good GDP and their economic conditions are one of the top in the world. But in India many people are still living under the poverty line. Most of the people are not really educated about the real use of crypto. Most of them are here only to trade earn and then cash out. But there is a few group of people aho are trying to promote crypto in India.

Right ,the world largest economy now in china even better than America . So it's doubtfully speak that another window open .I think India never achieve investors wishes because indian GDP is going to decline for COVID-19 .