Did India’s RBI just kill the competition to pave the way for the success of their own digital currency?
The Reserve Bank of India finally released a statement about the government’s views on cryptocurrency and crypto assets. The RBI issued a directive on Friday morning giving all RBI regulated organizations three months to cut all ties with individuals and entities that deal in cryptocurrencies and other crypto related projects. After the statement, the price of Bitcoin listed on Indian crypto exchanges crashed, presumably due to large selling. The price crashed from about Rs 500,000 to about Rs 340,400. In the same breath, however, the RBI also announced its own digital currency “While many central banks are still engaged...Read More