Bill announcement and market updates. USDT price fluctuations.

We finally have things moving on the regulatory side with the introduction of the bill expected in the forthcoming session. In the same regard Gaurav had penned down a few thoughts regarding the same which can be found in this article.

https://medium.com/bitbns/future-of-crypto-in-india-2e78cce09dbd

The markets didn’t see any major panic selling which is a major plus. But the USDT price did dip and went too close to 70 INR per USDT. USDT holders can experience the highest liquidity for USDT INR markets on Bitbns. And there are fairly strong buy orders on the orderbook in that range where users can sell them.

Instant withdrawals are currently disabled as we are facing some temporary issue with payment processing requests from the processor. In order to compensate for the same users placing a normal withdrawal request on Monday would receive Cashaa (CAS) tokens worth 0.5% of their withdrawal amount.

So if you are withdrawing 1 Lakh INR you would receive 500 INR worth of CAS in your account. Users can also margin trade USDT by borrowing it and selling it if they expect USDT price might fall further.

W.R.T the bill would say, You can resist an invading army; you cannot resist an idea whose time has come — This quote by Victor Hugo is something that applies to every major change and so is true with crypto as well.

What you should do being a part of the community ? Get more people involved in crypto. Educate them, help them make their first bitcoin purchase. The larger the community the harder it becomes to ban anything. We have a window of time. Let’s multiply our efforts in terms of bringing users into crypto. Educate them about the positives and negatives of crypto.

Till then it’s #CryptoHiSahiHai