India and it’s black money problem
In one of the most audacious experiments in India’s modern history, Prime Minister Narendra Modi banned the two largest bills — of 500 rupees, or about $7.50, and 1,000 rupees — which account for about 86 percent of the currency in a country where 78 percent of financial transactions are done in cash.
Gives traders a great arbitrage opportunity
Founded in 2014 by Benson Samuel and Mohit Kalra. The company created the first INR based blockchain Explorer in January 2015, the company’s trading platform between INR and bitcoin went live in April 2016 and Coinsecure recently announced having raised $1.2 million.
Chaos at banks continues
Long queues continue outside banks and several ATMs have run out of cash in India.
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