Binance and Bundle Africa immediately announced they would suspend deposits.
Indian banks’ crypto crackdown sends investors to buy over the counter - The Ken
Still, the timing of the move is interesting, coming just months after residents began using bitcoin to raise funds as part of the ENDSARs movement. Basically, this looks like a trend. Crypto is getting to a place where governments have to pay attention to it.
Meanwhile, Congress is gearing up to face a number of issues this year, beginning with an impeachment trial that starts this week and coronavirus pandemic relief. However, a number of cryptocurrency issues will likely work their way through Capitol Hill. Here are a few of the major players to watch:.
Nigeria's cryptocurrency crackdown causes confusion
Brooks, the former Acting Comptroller of the Currency, was nominated to a full five-year term. You can also join the group conversation on Telegram.
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Representative Maxine Waters D-Calif. Waters chairs the House Financial Services Committee, the main committee that oversees cryptocurrency and fintech issues in the House of Representatives.
She has called a hearing next week on Robinhood and the GameStop pump. McHenry is the ranking member on House Financial Services. Representative Jim Himes D-Conn.
Expect bitcoin to come up. Representative French Hill R-Ark. Hill is the ranking member on the National Security subcommittee. In public statements he has said his focus will be on evaluating a real-time payments system , as well as paying more attention to housing and urban development issues than the committee has in years past. Senator Patrick Toomey R-Pa. Toomey is the ranking member of the Senate Banking committee. Senator Elizabeth Warren D-Mass. Senator Cynthia Lummis R-Wyo.
Key: nom. Cryptocurrencies have been gaining traction in India over the recent months as many Indians see them as an alternative to buying gold.
Trade volumes at several crypto exchanges in the country have been rising. Given this new found love, ahead of the budget, IndiaWantsCrypto was trending on Twitter. But expectations that the budget would ban cryptocurrencies did cause jitters in the market.
In , the RBI had asked all banks in the country to cut ties with entities dealing in cryptocurrency, which wreaked havoc for the ecosystem with many exchanges shutting shop. The matter took nearly two years and an intense court battle to get resolved.
State of Crypto: India and Nigeria’s Crypto Crackdowns Continue Old Trends