Petition To Reverse Indian Central Bank’s Crypto Ban

A petition for “Mak[ing] India at the forefront of Blockchain Applications Revolution” in response to the Indian central bank ending all dealings with crypto-related accounts this week has gained over 17,000 thousand signature since going online April 5.

The petition requests that the Indian government support the Blockchain and crypto sphere, specifically because it provides young people with jobs.

According to the petition, the Reserve Bank of India’s (RBI) April 5 ban – which tech investor Tim Draper had recently called “a huge mistake” – could lead to an increase of irregular cash trading of cryptocurrencies in India. In addition, the ban could take away potential revenue to the government from crypto exchanges, and instigate a crypto market price drop “due to the knee jerk reaction in which prices got impacted”.


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