India’s central bank’s decision to ban all banks and entities that come under its authority did not go well with the country’s crypto traders/investors.
Many expressed their anger at the Reserve Bank of India on social media platform under the hashtag #RBICantStopMe.
One investor notes:
Campaign against the preposterous decision by RBI to ban the banks from catering to Crypto service providers like exchanges.
It will only promote incorrect means of crypto acquisition.#RBICantStopMe
Share the hashtag to tell RBI we want to buy crypto legally from exchanges.
— Naimish Sanghvi (@ThatNaimish) April 5, 2018
CryptoBuzz India tweeted:
Appeal to all indian crypto lovers
— Crypto Buzz India (@CryptoBuzzIndia) April 5, 2018
The RBI has not responded to any of these angry tweets. Interestingly, in addition to banning cryptocurrency trading, the central bank said that it was looking into a unified central digital currency. B.P. Kanungo, deputy governor of Monetary Policy Committee(MPC) of the RBI, told Times of India, yesterday:
While many central banks are still engaged in the debate, an inter-departmental group has been constituted by the Reserve Bank to study and provide guidance on the desirability and feasibility to introduce a central bank digital currency.
That report will be ready by the end of June 2018.
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