Bitcoin News In India gurujitrading

he Parliament in India has three annual sessions: Budget session, which ran from January to March, Monsoon session — which occurred this past September but was cut short due to positive Covid-19 tests from members of the parliament — and Winter session, which ran from November to December last year. This year’s Winter session has also been delayed, with no new dates set as of yet, due to the Covid-19 pandemic.

Rumors or no rumors for the time being, the threat of another cryptocurrency-related ban looms large in the industry’s fears and imagination. But notable investors such as Tim Draper — whose venture capital firm recently led Unocoin’s US$5 million Series A funding round, are banking on India’s cryptocurrency industry having a bright and legal future.

“In all likelihood, it will be a ‘no’ (to banning crypto) as of this time because of our influence,” said Vishwanath, in a video interview with Forkast.News. “The industry has done this influence and the media has done this influence on why [cryptocurrencies] should be there in India — to not lose the opportunities.”

India’s largest exchanges, such as Unocoin and CoinDCX, have reported a 10-fold increase in users since the Supreme Court reversed an earlier ban by the central bank, Reserve Bank of India, that prohibited banks from doing business with cryptocurrency companies.