- India Considers a Blanket Ban on Cryptocurrency Trading Despite Rising Popularity
- Ripple’s CEO, Brad Garlinghouse Says he is Disappointed in the Country’s Stance on Crypto Trading
- XRP Starts Gaining Momentum Above the $0.25 Level
XRP News Today – Like most members of the cryptocurrency community, Brad Garlinghouse believes that cryptocurrencies and the underlying blockchain technology are the future of technology. This is why he spoke up recently after News broke about India’s plan to place a blanket ban on cryptocurrency trading. India and other countries in Asia are among the most popular promoters of cryptocurrencies thanks to their population. However, the Indian government now feels differently from its residents. In a recent report, which was originally published by Bloomberg, it was revealed that the policymakers in India are planning on introducing a blanket ban on cryptocurrency trading.
Will a Ban in Cryptocurrency Trading Affect the Adoption of XRP in Asia?
Following the report from Bloomberg, Ripple’s Brad Garlinghouse said that India’s ban on cryptocurrency trading will make them miss out on an amazing technology that would have helped their population thrive in the new world. Keep in mind that the ban they are proposing is only meant to affect trading cryptocurrencies. They still have interest in blockchain technology. They are already investing in developing blockchain-based infrastructure. While the report has not been confirmed by the regulatory authorities in India yet, the rumors of such a move has not been received well by the cryptocurrency industry. Garlinghouse said;
“Disappointing to see India flip flop on crypto, hamstringing a nascent industry which could serve one of the biggest populations of unbanked/underbanked citizens,”
It’s not a surprise that Garlinghouse has expressed disappointment in this news since Ripple has been struggling to penetrate Asia for years. While they’ve made a lot of progress in Japan, the adoption of Ripple’s XRP liquidity solution is not progressing as fast as it should in India. This is part of the reasons why the company has offered policy markers suggestions on cryptocurrency regulation. Despite all their efforts, financial regulators in India haven’t implemented any of these suggestions.
XRP Price Prediction – XRP Starts Gaining Momentum Above the $0.25 Level
In other news, the XRP token is gaining momentum. At the time of writing, the price of the token was $0.253707. It is up by 1.64% against the USD and up by 0.68% against Bitcoin BTC. The trading volume over a 24 hour period was $2,134,941,285 and the market capitalization was $11,427,540,459. A rise above the $0.27 level will lead to higher highs near-term.