Casha Will Start Crypto Currency Trading In India As Credit Cooperativ
The trend towards cryptocurrencies is increasing among the youth of the country and they are fiercely buying and selling through apps.
New Delhi. These days the popularity and recognition of cryptocurrencies is increasing all over the world, while on the other hand new controversies related to it are also emerging. Recently Anthony D. Ayorio, the co-founder of Ethereum, the world’s second largest cryptocurrency, has announced his exit from the cryptocurrency industry. He said that he is taking this decision keeping in view his personal safety.
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Iorio was the owner of one billion dollars in the year 2018
Let us tell you that he has earned a lot of wealth from cryptocurrencies. In the year 2018, Ayorio came into the limelight when he bought an apartment in Toronto for $ 22 million. His net worth is believed to be around one billion dollars as of February 2018. However, Ayorio refused to disclose his net worth.
Jackson Palmer, the co-founder of cryptocurrency DodgeCoin before him, has also announced his departure from the cryptocurrency industry. He had also strongly criticized this industry.
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Cryptocurrency will also come to India
The Reserve Bank of India has not yet recognized any cryptocurrency in the country. But the trend towards this industry is increasing among the youth of the country and they are fiercely buying and selling through apps. Despite RBI’s displeasure, crypto bank Casha has also announced to start banking operations in the country. In order to bypass the rules of the Reserve Bank, this bank will enter the country through the Credit Cooperative Society. Cashaa has launched the branch Unicash for trading cryptocurrencies.
According to officials of Kaisha, their firm is a cooperative society and is registered under the Registrar of Societies. In this, only the members will be given services. For this reason, the promoters of Cashaa need not seek the approval of the Reserve Bank. Apart from this, Cashaa is also working on a plan to give loans and open accounts for its customers to buy cryptocurrencies.
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