The Chinese government is expanding its crackdown on cryptocurrencies, and the Reserve Bank of India (RBI) has announced that it will ban cryptocurrencies completely. Here are the cryptocurrency bans from 2 countries and what happened…
China bans short videos about cryptocurrency on social platforms
In an updated post by the China Netcasting Services Association (CNSA), it is reported that the sharing of videos promoting cryptocurrencies is prohibited. According to the development, guidelines under the “Online Short Video Content Review Standard Rules (2021)” state that users should not share visual content that encourages participation in cryptocurrencies, mining, trading and speculation. The ban will apply to platforms such as Douyin, Bytedance’s Chinese version of TikTok, Kuaishou, messaging apps, and microblogging platforms like WeChat.
cryptocoin.com As we reported, on November 11, Indonesia’s top religious body banned the use of cryptocurrencies under Sharia law.
India preferred full pressure on cryptocurrencies!
The Reserve Bank of India (RBI) reported that a full ban on cryptocurrencies will be implemented and a partial ban will not work. At the 592nd meeting of the central board of the Reserve Bank of India, chaired by Shaktikanta Das, on Friday, various aspects of Bitcoin and the Central Bank Digital Currency (CBDC) were evaluated by the executives. According to the decision, a full crypto ban will be preferred, emphasizing that a partial ban will be ineffective. Apart from that, the government prohibits the use of crypto for payments, while regulating cryptocurrencies with the Securities and Exchange Board of India (SEBI) acting as the primary regulator. According to rumors, the government is still working on the bill and will present it during the budget session.
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