CoinDCX: Update on RBI Announcement
Since the advent of blockchain technology, we all dreamt of a truly democratic world. A world where our fate would not be decided by a centralised entity but us. We all agreed that this peer-to-peer technology with state-of-the-art cryptography could change the world’s economy for good. It could fund revolutionary ideas that earlier could never see the light of the day. It could bring us all closer together to become a global citizen in a decentralised economy.
Unfortunately, Today RBI made an announcement against this true freedom. RBI in its first bi-monthly monetary policy has announced that any entity regulated by them (such as banks) to not deal with or provide services to any individual or business entities for buying or selling of cryptocurrencies.
In a democratic country like India, RBI hasn’t just ruled against cryptocurrencies but have put the whole blockchain revolution in India to hold. India encompasses one of the most talented technologists in the world. With the use of blockchain, we have an opportunity to bring this talent out to the world.
But today, we have taken a step back as the nation.
RBI has blatantly passed this circular without considering the repercussions it may have on innocent investors. Uninformed investors may panic, and fall for any scams that promise them their money back.
Not just that, it keeps India away from the technologies that are meant to give more power to Indian citizens and help them stand alongside the rest of the world.
What we urge you to do
This is certainly a time to halt and think about the future of India. It’s natural to be worried about your hard earned money being lost in this political warfare. But we request you all to come together and find a way to not let India fall into this pit. We all agree that we could find better solutions to stop scams than entirely curbing the growth of an industry.
We believe that if we all stand together as one and our intentions are pure, we could let the ones in power understand the real power of this crypto-community.
Be wary of any FUD or false claims till the clouds of uncertainty are upon us. Meanwhile, let’s keep the action going on CoinDCX for the Pre-Launch. A lot of amazing features and surprises are coming up on the platform.
LET’S UNITE AND CRYPTO :)
