The RBI (Reserve Bank of India) proclamation of buy and sell of crypto currency has not affected the market but also the traders and the investors who are going to incur loss and many people closing their procedure of investing in crypto currency.
Rahul Raj (the CEO, Co-founder of Koinex) said “This anomalous decision of the RBI has affected many industrialists at various points. An investors who has made heavy investment in crypto is going to suffer a lot as the trade volume of crypto is diminishing day by day and a price of token is falling down the long term investors is going to suffer a lot as the ban on crypto by the RBI has already dissolved my investors with great loss.
The announcement of RBI is about to end this announcement is clear let down for fresher’s who wanna invest in crypto “said Praveen kumar Vijayakumar, Founder and CEO, Belfrics Global market.
Now, a day’s banking services have stopped as it is stated that investing in crypto is illegal but if anyone is interested in trading crypto can buy and sell it on Pluto Exchange, said the ” Bharat Verma, CEO and co-founder, Pluto Exchange. Last week RBI has announced those financial intuitions who are dealing with crypto should exit their operation within three months.
“The RBI regulators has announced this as their think dealing with crypto currency is not beneficial as it virtual currency and should stop investing in crypto currency within three months” said RBI Deputy Governor B.P. Kanungo.
Rahul Raj said that this move of RBI has affected the ecosystem of Ripple and has made the unhappy surrounding in the market.
The world is moving fast with digital form of technology as billions of dollars can be transacted in form of crypto currencies in World in a much better,more efficient and faster way than any other central bank in the world said Mr. Vijayakumar.
- Kenya, Dubai, Malaysia, Singapore, Bahrain, Hong Kong, China and Indonesia are the countries where the Belfrics exchange is currently active.
But, verma believes that the RBI will make positive decision over market & will give detailed information and guidelines till June 2018. As verma said that he’ll wait for the correct time, correct thing and not going to wrap operation as it is to early to make the decision.