Just today, India announced the ban on all cryptocurrencies, including Bitcoin, which has dealt a heavy blow to the cryptocurrency that was originally in the market’s pick-up period. Just after the cruel June, there were bad things happening in July. In just 24 hours, the market value of cryptocurrencies has been reduced by $100 billion, which gives a more realistic argument for the cryptocurrency that has a reputation for a bubble economy. In fact, as early as February of this year, Indian Finance Minister Jatrier promised in the annual budget speech that it would ban the illegality of cryptocurrency.
What happens now is nothing more than a promise not to become a reality.
However, the future of cryptocurrencies is still not clear. In addition to India, countries with more active cryptocurrencies, such as the United States, Japan, and South Korea. There are no particularly big moves. Especially in Japan, it still insists on the development of cryptocurrencies. Before the cryptocurrency’s rise was too high, it was easy to cause the price to fall, so the cryptocurrency is still in the adjustment period.
However, one thing is different from the previous one. The development of the previous cryptocurrency is in a relatively loose and free environment. The development of cryptocurrency is regulated, controlled and even banned by the government. Tightening the regulation of cryptocurrencies is a general trend. From the Korea Financial Services Commission to the US Securities Regulatory Commission to India, countries will no longer allow the cryptocurrency market to develop at will.
Due to the influence of India’s ban policy, the prices of many cryptocurrencies have declined, such as:
Cobinhood token is the COB, and its ranking in the cryptocurrency is 411. As of now, the price has decline by 3.86%. The current market value is: 11,274,419 USD, the exchange rate for the USD is: 0.0309821USD, the redemption price for the BTC is: 0.00000508, and the transaction volume in the 24 hours is:12194 USD.
Cofound.it token is the CFI, and its ranking in the cryptocurrency is 378. As of now, the price has decline by2.07%. The current market value is: 13,382,720 USD, the exchange rate for the USD is:0.041178USD, the redemption price for the BTC is: 0.00000624, and the transaction volume in the 24 hours is:223,627 USD.
Hackspace Capital token is the HAC, and its ranking in the cryptocurrency is 1023s of now, the price has decline by2.07%. The current market value is: 2,872,303USD, the exchange rate for the USD is:0.041178USD, the redemption price for the BTC is: 0.00000134, and the transaction volume in the 24 hours is:406 USD.