Permainan judi slot online terbaik

slot hoki terpercaya

  • About
  • Contact
  • Privacy Policy
  • bitcoinBitcoin$19,434.353.19%
  • ethereumEthereum$1,070.734.51%
  • xrpXRP$0.314936-2.17%
  • bitcoin cashBitcoin Cash$102.003.08%
Cryptovibes.com - Daily Cryptocurrency and FX News
  • Home
  • News
  • Analysis
  • Crypto
  • Autotrading
    • Bitcoin Robot Guide
    • Bitcoin Future
    • Bitcoin Millionaire Pro
    • Bitcoin Pro
    • Bitcoin Loophole
    • Bitcoin Up
    • Bitcoin Storm
    • Bitcoin SuperSplit
    • Bitcoin Supreme
    • Bitcoin System
    • Bitcoin Fortress
    • Immediate Edge
    • Bitcoin Profit
    • Bitcoin Trader
    • Bitcoin Bank
    • Bitcoin Union
    • BitQT
    • Bitcoin Prime
    • Profit Compass
    • Bitcoin Champion
    • Bitcoin Optimizer
    • PBN Invest
    • Quantum AI
    • Celebrities
      • Teeka Tiwari Investment plan
      • Kate Winslet Bitcoin
      • Holly Willoughby Bitcoin
      • Ant McPartlin Bitcoin
      • Nicole Kidman Bitcoin
      • James McAvoy Bitcoin
      • Jim Davidson Bitcoin
      • Peter Lim Bitcoin
      • Jonathan Ross Bitcoin
      • Bear Grylls Bitcoin
      • Phillip Schofield Bitcoin
      • Mike Hosking Bitcoin
      • Ryan Reynolds Bitcoin
      • Dick Smith Bitcoin
    • Broker Reviews
      • Herdos Review
      • FXTB Review
  • Disclaimer
  • PR
No Result
View All Result
Cryptovibes.com - Daily Cryptocurrency and FX News
No Result
View All Result

Facebook’s Stablecoin Causes Jitters among Indian Bitcoin Players

John Wanguba by John Wanguba
May 13, 2019
in Crypto news
Reading Time: 4min read

Most of the Indian companies in the crypto space now worry about the Facebook crypto plans. They say that the Social Media company’s plans to test its virtual token dubbed Libra in the country may bypass regulations that prohibit using banking channels for crypto transactions.

Reports suggest that Facebook will support peer-to-peer transaction of its crypto. Unlike the local bitcoin companies, Facebook’s currency system will not need banks to transact funds. Users can buy or sell digital tokens via different social media platforms. The only positive thing about this Facebook move could be that cryptos may gain massive legitimacy.

The Reserve Bank of India went ahead to ban regulated entities in April 2018 from offering services in cryptos to any business or individual. However, the banking regulator encourages blockchain use to enhance traceability and transparency.

Bloomberg reported on May 8 that Facebook is building a ‘stablecoin’ cryptocurrency anchored by the US dollar. The social media giant confirmed that it plans to test in India in 2019 for its WhatsApp payments. If the Facebook crypto becomes a reality, it will shake up and change the entire crypto industry. The social media company may also choose to operate its currency within its platforms.

The Local Players’ Take

Currently, India has no law that prohibits users within a certain platform from exchanging value. Thus, even tokens can be exchanged through social media if Facebook chooses to go that way as explained by the founder of WazirX, Nischal Shetty. Peer-to-peer exchange of digital assets is legal since no banks feature in the transactions.

The founder of Unocoin, Sathvik Vishwanath, believes that such a development by an institution like Facebook enhances the legitimacy of the nascent technology. He has strived to raise awareness around the technology through social media for the creation of a formal framework. The entrance of Facebook into the crypto space will bring positive sentiments among the users.

Recently, RupeeCoin targeted at the South Asia market aiming to offer users with rupee-equivalent blockchain-based digital currency. However, they feel that India needs to be cautious about Facebook’s plan. The absence of proper rules and the flimsy history of Facebook’s information management are things to keep in mind.

The Internet and Mobile Association of India are currently fighting a major case fronted in the Supreme Court against the ban by the Indian regulators. The next hearing takes place in the second week of July 2019.

The founder of Incrypt Blockchain, Nitin Sharma, believes that for the large scale Facebook project to be deployed in India, regulatory approval may be necessary at some point. Crypto traders supporting the Indian pro-crypto regulation campaign have many worries. They believe that a Facebook-backed project may not be the best thing for virtual currencies.

Like what you're reading? Subscribe to our top stories
Tags: Bitcoin IndiacryptocryptocurrencyFacebookIndiaInternet and Mobile Association of IndiaLibraStablecoinUnocoinWazirXWhatsApp

Related Posts

'Cryptoqueen' Ruja Ignatova Now In FBI’s 10 Most Wanted List
Crypto news

‘Cryptoqueen’ Ruja Ignatova Now In FBI’s 10 Most Wanted List

June 30, 2022
US Government Suspends Enforcement Of Crypto Broker Reporting Laws
Crypto news

US Government Suspends Enforcement Of Crypto Broker Reporting Laws

June 29, 2022
Crypto Is Popular Among Millennials Than Mutual Funds
Crypto news

Crypto Is Popular Among Millennials Than Mutual Funds

June 28, 2022
Facebook Twitter Instagram Telegram RSS Youtube

Newsletter

Like what you're reading? Subscribe to our top stories
situs qq online terpercaya
probola
Menyajikan live score bola terkini
www.jamberrynails.net
adtoken.com
Agen bola
judi online slot
daftar judi slot terbaru
situs BandarQQ Online
Situs judi online Terpercaya
poker online
judi bola
slot pragmatic
situs judi bola
situs judi bola
pragmatic play
judi bola
Situs Slot TOS885

Copyright © 2017-2019 Cryptovibes.com. Price data provided by our official partner CoinGecko.

No Result
View All Result
  • Home
  • Crypto news
  • Analysis
  • Editors’ Choice
  • Entertainment
  • Press Releases
  • ICO
  • Wisdom
  • Coins List
  • Advertising
  • About FXTimes
    • Privacy Policy
    • Terms of Use
    • Donate

Copyright © 2017-2019 Cryptovibes.com. Price data provided by our official partner CoinGecko.

Situs sbobet resmi terpercaya. Daftar situs slot online gacor resmi terbaik. Agen situs judi bola resmi terpercaya. Situs idn poker online resmi. Agen situs idn poker online resmi terpercaya. Situs idn poker terpercaya.

situs idn poker terbesar di Indonesia.

List website idn poker terbaik.
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.