The Supreme Court of India continues its ban on banking sector crypto services

India’s Supreme Court is currently not willing to remove the ban on crypto services offered by banks. The Reserve Bank of India has passed a circular at the moment which intends to keep the ban in place till a formal hearing takes place.

This ban was recently challenged by Crypto Kanoon. The Crypto Kanoon is an active group of lawyers. This group challenged the ban on crypto services imposed by the Reserve Bank of India.

Now, this ban turned out to be a major blow for all the crytocurrency enthusiasts who were hoping that this ban on banking sector crypto sector will not stay in place for long. The circular that has been issued by the Reserve Bank of India clearly states that currently the bank will not provide any services related to digital currencies.

Plus, the Reserve Bank of India will not facilitate any virtual currency dealings. This means that the cryptocurrency enthusiasts in India will need to show a bit of patience in this regard and will have to wait for the things to take a positive turn. At the moment it seems that the Reserve Bank of India is not willing to make any relaxations in its circular.

Apparently, it seems that the Reserve Bank of India is a bit sceptical about accepting the digital currency at this point of time. This is fairly understandable because digital currency is currently a new concept and it will take people a bit of time to accept this new concept.

The regulations regarding the digital currency also need to be more well-defined so that the financial authorities willingly accept this new niche. At the moment it is not possible to determine the concluding stance of the Reserve Bank of India regarding the digital currencies.

What needs to be mentioned here is that despite the prevalent opposition, the digital currency enthusiasts have decided not to give up on their mission and many are voicing out their concern regarding this ban. Hopefully, things will take a turn for the positive and the Reserve Bank of India might review its circular again the near future.

What digital currency investors need to understand is that digital currency needs to get the required acceptance from the banking sector as well. Otherwise this niche will not be able to excel in the long-run and the investors will also have to face a lot of hurdles in this regard.

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Cryptocurrencies experience a drop in value this week

The current week has not been bringing great results in the cryptocurrency niche. Most of the digital currency assets have experienced a decline of about 3 % to 15% in value. At the moment the value of Bitcoin Cash is about $1446 and the value of Bitcoin Core is about $8473.

Now, this has created an element of uncertainty among the digital currency traders and they are sceptical about adopting the future line of action. However, some of the digital currency investors are thinking on a positive note as well and they believe that the value of digital currency will soon rise in the coming week but at this point of time nothing can be said for sure.

If we look at the past trends, then one thing is quite evident and that is the value of digital currency tends to increase in Mid of May every year. This is why we can have positive hopes this year as well that the month of May will uplift the value of the digital currency.

The investors need to be quite careful in digital currency investment at this point of time and they should allow the market to become more stable. This way they can avoid losses and play safe. If we look at the technical indicators relating to digital currencies, then they are showing a bit of consolidation.

The technical indicators will play a positive role to ascertain the exact situation of the market at this point of time.

Ideally, the traders should wait till the next week for the value of digital currencies to improve. The best approach at this point of time is to wait and watch because it is not advisable to depend a lot on a vulnerable market.

At the moment most of the top exchanges are still trading the BTC pairs and things seem to be improving gradually. The truth is that the digital currency market is volatile so the trader has to understand the psyche of the market to excel. You cannot afford to make rushed moves in the digital currency market because that can end you in greater losses.

The best approach to adopt in the digital currency world is to go with the stride. This way you can look forward to consistent profits and you will not have to be disappointed with the end results. For now let us hope that the next week turns out to be more profitable for the digital currency investors.

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Software developers all set to work on crypto projects in India

Cryptocurrency is doing quite well in India and there are major happenings taking place in the field of digital currency in India. If we analyse the skillset, then currently about 5000 software developers in India have the necessary skillset to work on crypto projects. There are about 10,000 developers who are all set to be trained to be a part of the crypto projects.

This study was recently conducted by an HR company known as Belong. The company emphasized that about 30,000 developers who have worked in the back-end roles will require extensive training to be a part of the crypto projects.

The developers who can work on the crypto projects need to have the necessary skill in cryptography, algorithms and data science. If the developers do have the necessary skill, then they can truly look forward to a bright future in the field of digital currency.

At the moment many companies are keen to enter the crypto space so it seems that the skills of these competent software developers can be well-utilized. The real challenge for most of the companies is to find these developers who have the necessary skillset and can utilize their skills in the best possible way.

The training is bound to make a lot of difference. If the developers are trained well, then this will help to establish the Crypto space in India and the crypto industry will prosper in India. There is no denying the fact that digital currency market is growing at a massive pace. This was recently endorsed by the freelancing website Upwork as well.

Upwork recently revealed that Blockchain industry contributes to the 20 fast growing jobs. The developers should make sure that they cash on this opportunity in the best possible way. They should dig down into the skills that are required to achieve success in this industry.

One more thing that the developers need to keep in mind is that the competition will also increase along with the opportunities so one thing is quite clear and that is there is no place for the second best in this situation.

If things go right, then India is bound to experience a boom in the digital currency industry and competent developers will benefit from this industry. However, things need to be planned well so that there are no hurdles for developers who want to be a part of the crypto projects.

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Australian Government decides to take action against deceptive initial coin offering

The financial regulation authorities in Australia are quite concerned about the misleading initial coin offerings. This is why some of the issuers are thinking on the lines of modifying their structure.

In fact the Australian authorities have decided to take action against the deceptive conduct of the ICO’s. Now, this action does deserve applause because Australia wants to encourage an attitude of transparency when it comes to initial coin offerings and digital currency.

The deceptive ICO’s can be more of a threat for the investors who are relatively new to the field of digital currency. If the investors fall prey to the deceptive ICO’s, then they can lose a fair amount of investment at the end of the day.

At the moment the authorities are questioning the ICO issuers so that they can identify the element of deception. The authorities are also keen to identify the unregulated activities. The ICO issuers also need to take this questioning on a positive note and bring about the needed changes in their structure.

If the ICO issuers follow the rules that are set by the authorities, then it will become easier for the investors to confide in the ICO and they will take part in these ICO’s with full zeal and zest.

The authorities are keen that the ICO issuers should not be passing misleading statements as it can be quite upsetting for the investors. If the investors do not confide in the ICO’s, then it will become very difficult for the digital currency industry to excel and this will surely not be a positive move.

The authorities are of the opinion that these ICO issuers are leaving no stone unturned to generate hype about their ICO. They are using the social media as a lethal weapon in this regard. This is what the authorities term as misconduct that cannot be ignored.

What the Australian Commission wants is that true and correct information should be passed on to the investors. This way they can make better investment decisions. At the moment there are many ICO issuers who engage groups that can create hype about an ICO on the social media platforms.

If the Australian Commission can introduce this element of accountability among the ICO issuers, then the digital currency can flourish in the real sense of the word. Plus, more and more people will be keen to invest in the digital currency market because of the transparency.

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UNICEF Australia introduces the concept of donating computing power

Australia is playing its due role to promote the blockchain technology and digital currency. Just recently UNICEF Australia decided to launch a platform. The objective of this platform is to allow the users to donate the in-browser computing power so that they can provide help to the vulnerable children out there. This computing power is used for mining the digital currency.

There is a certain website known as the HopePage that allows the user to designate some percentage of their computing power to mining. This activity is done on behalf of UNICEF. The best thing about this website is that it does not store any user related information. This is why there is nothing on the line for the people who decide to share their computing power.

If the user decides to stay on the website page for a long period of time, then the user will be able to donate more computing power in this process. As a result, more algorithms will be solved and more cryptocurrency can be earned with ease.

However, the users need to follow certain instructions if they wish to donate computing power. For example, one step that the users need to follow is that they have to make it a point to block the ads when they open the site.

The platform Hopepage believes that they are maintaining the element of transparency because it is in the knowledge of the users how much power is being donated to the platform. This action has loads of benefits. First benefit is element of donation. The second element is that people are getting a fair chance to become aware of digital currency and the mining technology.

This step encourages the positive use of computing power. There is no denying the fact that these steps are much needed to build a positive perception related to digital currency use. The good news is that people donating power to the website are significantly increasing with the passage of time and hopefully this effort will continue in the near future.

There is also a possibility that the operational mechanism of Hopepage will be more refined in the near future. The Hopepage is doing an exemplary job and people should also encourage this move on their part by donating their computing power in a whole-hearted way.

This way organizations like UNICEF will be encouraged to take this kind of an action in the near future as well. At the moment we all need to applaud the efforts of UNICEF Australia.

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Lawmakers in South-Korea keen to legalize the initial coin offering

It seems that digital currency has a bright future in South-Korea as well. This is why the South Korean lawmakers are working on a bill so that they can legalize the initial coin offerings. However, it is important that these coin offerings should meet the conditions that are set by the Government.

At the moment the initial coin offerings are banned in South-Korea but it seems that this bill will be able to make a difference for sure. Actually, the lawmakers are trying to play it safe. They intend to legalize the ICO under the supervision of the Government. If this happens, then this will introduce the element of transparency in the initial coin offerings.

Apparently, it looks that this bill will get the much needed acceptance and there is a reason behind it. The bill does not focus on legalizing any ICO. It is focused on legalizing only those ICO’s that are introduced by the public organizations.

Secondly, the bill also emphasizes on promoting the ICO’s that are initiated by research centres that are focused on promoting the blockchain technology. Once this bill is initiated, then the financial authorities will allow the ICO’s provided certain conditions are met.

This is why all those who initiate the ICO’s should make sure that they follow the Government’s terms and conditions. The exchanges are also taking interest in initiating the ICO. A cryptocurrency exchange by the name of Bithumb just took an initiative in this regard. It has decided to launch an ICO in Singapore.

This positive environment for digital currency investments and ICO will surely affect South-Korea in a positive way and more people will be interested to walk in this direction. Any public organization that plans to hold an ICO in South-Korea should make sure that it is fully aware of the regulations.

This does make a difference at the end of the day. If this law to legalize ICO gains acceptance, then it will surely be a major milestone in the history of South-Korea. However, organizations and research centre should make sure that they follow the instructions of the Government to the core.

The ICO’s can only be successful in South-Korea if the Government support is there. Once the Government develops confidence in the ICO’s, then the blockchain technology is bound to prosper in South-Korea. Till then we can just hope that the efforts of the lawmakers do not go waste and Government considers the introduced bill.

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First week of May quite happening for the digital currency market

There has been a lot of action in the digital currency market recently. The digital currency has witnessed some major fluctuation in the last 72 hours. If we look at some past records, then some of the digital currencies witnessed a major drop in their values. They experienced a drop of about 6% to 8%.

The good news is many of these digital currencies have been able to recover their loss. The digital currency enthusiasts are of the opinion that May is going to be a great month for digital currency investments. At the moment the Bitcoin Cash markets have been able to spike up so it is the right time to invest in Bitcoin Cash.

Apparently, it seems that the market will continue to improve. However, this does not mean that the traders should trade without a plan. It is important to keep monitoring the digital currency market and make the best move.

The investors should not forget the fact that the digital currency is volatile in nature so there is no room for mistakes. Both the upward and the downward trend have been witnessed in the beginning of May so the traders need to plan their trades accordingly.

If we individually assess the performance of BCH/USD, then it has been able to witness an increase of about 10%. The BCH market has been able to reach above $24Bn so it seems that there is no turning back for BCH at this point of time.

There are many exchanges that are actively dealing with BCH trading at this point of time because it is doing significantly better than other digital currencies. The names of these exchanges are Bitfinex, Okex and Binance.

However, this is surely not the right time for any aggressive moves. If the traders trade without monitoring the trends, then this can turn out to be a fatal error. Investors who wish to invest in Ethereum and Bitcoin Core should also go ahead with their decision because these two digital currencies are also doing quite well at this point of time.

Apparently, it seems that this positive trend will continue in the month of May and the traders will be able to profit from the situation. Another thing that traders should remember is that many exchanges may rise at this point of time to cash on the situation. This is why the traders should opt in for the reliable exchanges only for trading digital currency.

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