Is India Trying To Ban Crypto?

Plus a history of rubbish rallies.

Happy Friday, Blockfolians

The Lede

The Indian crypto community rejoiced earlier this year when the Supreme Court overturned a defacto ban on Indian banks banking crypto companies. The prohibition had been in place since 2018 at the behest of the Reserve Bank of India (RBI).

Interview: India And The Blockchain/Crypto Debate

Unfortunately, it looks as though the next challenging chapter of the Indian crypto battle is beginning. A new law is being drafted that would ban cryptocurrencies with the full force of the Indian government.

What’s for sure is that this wont go down without a fight. Head over to Twitter and search for #IndiaWantsCrypto to see how passionate this community is about having the opportunity to build a better financial future.

Blockfolio stands with them.

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Highly Relevant Reading

Community Commentary

Don’t agree with Robert Reich on everything, but on this one we definitely do.
This newsletter by Adam Pokornicky is absolutely required reading.

A Really Big Number We Should Be Paying Attention To 

$106.3 Billion

That’s Bitcoin’s realized market capitalization - an all time high.

Final Thought 

If you want a historic perspective on this week’s stock madness, check out this history of Rubbish Rallies.