Bitcoin and Ethereum Suffering from Another Blow: India ‘Ban’ Crypto While Rockefellers Invest?

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and other top cryptocurrencies including Ethereum suffer another blow as India and Pakistan ban banks for any cryptocurrency links. Keep on reading Nexter.org to know the details.

India and Pakistan ban cryptos?

India’s central bank barred banks on Friday from having any links to virtual currency dealers, slashing the prices of and other cryptocurrencies on local exchanges.

The panic connected with misunderstanding as India hasn’t banned trading. Instead, the RBI is ending its relationship between its own banks and any user or corporation dealing with cryptocurrencies.

Pakistan’s central bank said in a separate statement late on Friday that cryptocurrencies were not legal in the country.

The State Bank of Pakistan told banks and other financial services providers to refuse customers seeking cryptocurrency transactions.

The price of fell to a low of $5,392 versus its international market price of $6,617, following the RBI announcement, cryptocurrency exchange Coinome said.

The Indian government has previously likened cryptocurrency investments to “Ponzi schemes” that offer unusually high returns to early investors.

bitcoin-chart-photo

Source: coinmarketcap

Rockefellers move into cryptocurrency

Rockefeller family owned Venrock VC fund has now decided to enter the cryptocurrency markets in partnership with CoinFund.

CoinFund is an investor group which specifically focuses on funding cryptocurrency and blockchain startups.

David Pakman, a partner with Venrock commented: “We wanted to partner with this team (CoinFund) that has been making investments and actually helping to architect a number of different crypto economies and crypto token-based projects.”

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Shaky Bitcoin: India and Pakistan Ban Crypto While Rockefellers Invest?
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Shaky Bitcoin: India and Pakistan Ban Crypto While Rockefellers Invest?
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Bitcoin and other top cryptocurrencies including Ethereum suffer another blow as India and Pakistan ban banks for any cryptocurrency links. Keep on reading Nexter.org to know the details.
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