ilmscore | Future of Crypto in India | Trade with Purab

Future of Crypto in India | Trade with Purab

Predictions from this Video

Total: 5
Correct: 0
Incorrect: 0
Pending: 5
Unrated: 0
Prediction
Topic
Status
The future of cryptocurrency in India is currently uncertain due to regulatory issues, exemplified by the situation with Binance.
"the future of crypto is a bit stuck. Once again, look at what happened to Binance."
Cryptocurrency Regulation in India
Pending
Indian cryptocurrency brokers currently lack the efficiency and trading volume to effectively execute user orders.
"And again, many people because Indian brokers are at the moment not so efficient or not so developed and the volume in them is also not that much, the trading volume is also not that much that your orders can be executed."
Cryptocurrency Trading Volume
Pending
A significant amount of Indian funds, totaling $13 billion, were held on a single, unnamed cryptocurrency exchange.
"And if I may say one more thing, then at the record level, at the record level, 13 billion dollars. An amount of more than $ billion dollars, there is only one cryptocurrency exchange, I won't name it, but there is only one cryptocurrency exchange, which you probably know is very popular. There were funds of the people of India in just one broker, 13 billion dollars in just one platform."
US Dollar as Reserve Currency
Pending
The speaker suggests that the Indian government should either completely legalize or completely ban cryptocurrencies to provide clarity for traders and investors.
"We want to either legalize it completely or ban it completely. So that we know whether we should do it or not."
Indian Government's Approach to Cryptocurrency
Pending
Some countries, such as the UAE, have granted legal status to cryptocurrencies, implying a potentially weaker governmental control over currency issuance.
"If you go to Dubai, if you go to the UAE, if you go to Escobar, here or in some countries, even legal status has been given, but there obviously the government is not strong enough"
Cryptocurrency Legal Status in UAE
Pending