The digital currency seems to be directionless in countries like India. All thanks to the uncertainty that has kept the investors, stock exchanges, and traders along with others who are seen having issues in blockchain spaces. The government seems to have embarked with several groups that are in talks with the government banning digital money. There are several experts who feel that India is going to lose a huge amount of foreign investments that are seen passing the digital currency. However, the hostility towards digital money as the Indian government seems to be dealing with it can prove the same. Well, let’s check how things are in India when it comes to digital money.
The Status Of Digital Currency In India
India has a total of seven different exchanges when it comes to dealing with digital money, and more than seven million people are seen investing in the same. As per reports, there are around 200 plus startup companies that are working in the segment of blockchain that is linked to the digital currency sector. Currently, we see digital assets along with the associated currencies. Today, we see digital assets, along with digital currency, having a global market capitalization of around 1.5 trillion USD. There are so many people who are seen finding digital money to be exciting owing to the huge returns that are seen coming up with the asset class. Now, we see both the Indian government and its central bank - RBI, have indicated that they are not in favor of digital currency or anything like that. However, the Supreme Court was seen slashing down the RBI that gives new hope to digital money. The government is in the process of making the digital currency decision in the coming next year, while experts feel that they are going to lose the foreign investment in a big way.
Foreign Investors
There are several foreign investors from companies like the US who are now gearing up to invest huge money in India and now in other nations like China. However, as the Indian government is seen showcasing hostility towards digital money, this is where one can see India going to lose a large chunk of money from foreign lands. A number of nations all across the world that have passed bills favoring digital currency through a website like trans4mind.com will have problems with India. A number of nations are seen adding up new rules and regulations that are seen allowing digital currency claims from the top financial institute chief.
If you look at India, the stock exchanges that remain digital currency based are seen raising not less than 5 million USD along with several other startups that are seen in the space gaining good interest coming from the investors. As you see in recent times, even the top auto brands like Tesla Motors and others are now allowing the people with Bitcoin to procure their cars or through the wealth made through the digital assets. We can see a number of investors found in India, and if we see Indian governments taking positive decisions over digital money, the FDI was seen talking to the global brands based in India to boost up.
But when we see the decisions to go negative, there are several other brands that are seen getting pulled out of the country and thus go with the nations that are not friendly regulations. This is certainly going to lead to the massive amount of job losses that are seen giving the country’s emerging economy along with the young population claimed the founders of the top Blockchain companies in several nations.
Bitcoin Bans And Blockchain Blocks
Digital currency in other countries There are a number of nations in the world that include the US, Indonesia, Malaysia, and Singapore, along with others that are coming up with the regulations around digital money that are allowed over it. There are several foreign investors that are seen pumping up in funds along with different nations as the cost of the digital currency, including Bitcoin that is seen going up. With the help of a stronger presence of digital currency all across the world, it will prefer nations with digital currency-based systems. And India banning digital currencies like Bitcoin trading will face a tough time bringing things bad for the nations.
