Libra is basically considered as crypto rival of bitcoin,plus is has Facebook’s branding so, it is expected to have a boom in the crypto-market.libra is going to lauch next year accouding to the reports it is sad to say that it is not making it way to India. crypto is basically full anonymous you can’t track any transfer done using crypto, which make crypto famous among cyber criminals , normal people are attacked towards crypto because of it’s high value in the market and high return in investment, bitcoin has seen a exponential growth in market in past 10 years
but The draft of Banning of Cryptocurrency and Regulation of Official Digital Currency Bill 2019 had proposed a 10-year-long prison term for people who “mine, generate, hold, sell, transfer, dispose, issue or deal in cryptocurrencies”. Subhash Garg, India’s economic affairs secretary also showed uneasiness related to private cryptocurrencies in the country. Litigation challenging the RBI’s ban on cryptocurrencies is currently underway before the Supreme Court of India (SC).
but still there is hope yes, the design of banning cryptocurrency has been challenged in the supreme court and hope so people win there so that we could be able to deal in bitcoins, and etherium, that would be cool if all sabzi wala and other vendors start accepting bitcoin.
meanwhile, there have been other cryptocurrencies to such as hydro, dai stable coin which have been launched over other countries but are afraid to show there face in India.
so, facebook is not launching its cryptocurrency but Indian could see facebook payment apps or a facebook UPI app based on BHIM upi , similar to google pay , which have received a massive response in India. google pay has become most use UPI app after Flipkart’s phone pay app. so might be facebook have thought something like this for India.
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