Happy Friday, Blockfolians
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).
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
Gemini looks to expand to Asia with new hire
SeedCX is closing its exchange arm to focus exclusively on settlements
CoinFlux owner admits to $1.8m in money laundering
Hey that’s cool - the National Science Foundation is funding crypto dollar research
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
That’s Bitcoin’s realized market capitalization - an all time high.
If you want a historic perspective on this week’s stock madness, check out this history of Rubbish Rallies.