India’s Crypto Ban Predictably Triggers Massive Bitcoin Price Premiums
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By CCN Markets: The bitcoin price has reached $11,200 at its peak earlier this month on major exchanges including Bitstamp and Coinbase following a large spike in volume and overall interest. According to reports, bitcoin is trading higher in India and Iran with premiums ranging from 5 to 30 percent, two regions that have practically restricted bitcoin trading. Is banning bitcoin not productive? In 2018, the Reserve Bank of India (RBI) requested banks under its oversight to stop providing services to crypto exchanges, putting an end to fiat-to-crypto trading platforms in the region. The RBI said at the time: Virtual
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