Thread by @CryptoKingKeyur

🚨 BREAKING: BCCI Drops a Bombshell 😳

🇮🇳 #Crypto and Betting Platforms Banned from Sponsoring Indian Cricket Team 😱

A thread 🧵

1️⃣ The BCCI just dropped a bombshell by barring #crypto and betting platforms from vying for the sponsorship of the Indian cricket team 😱

2️⃣ You won't believe what the BCCI secretary, Jay Shah, revealed in a press release.

👉 Alongside #crypto, the board has also prohibited real-money gaming, alcohol products, and even athleisure wear companies from participating in the bidding process.

3️⃣ While categories like alcohol and tobacco already faced restrictions, the inclusion of #crypto has raised eyebrows.

👉 With the government cracking down on betting platforms and discouraging #crypto investments, this move doesn’t come as a complete surprise.

4️⃣ It seems like new-age tech startups operating in these domains will face the brunt of this decision.

👉 Many #crypto startups have already been under scrutiny, and this move only adds fuel to the fire.

5️⃣ The decision to exclude #crypto platforms from the bidding process is sure to ruffle some feathers in the crypto startup community.

👉 After the recent downfall of major players like #FTX and #Vauld, this ban from BCCI adds salt to the wounds of authorities and investors.

6️⃣ The #crypto industry has been grappling with regulatory challenges and market turbulence, and this move by BCCI further intensifies the pressure on startups.

👉 It's a tough blow for those who were hoping to seize this golden opportunity to gain visibility.

7️⃣ But let's not forget, the government has been tightening its grip on #crypto, with the Reserve Bank of India expressing concerns about their impact on India's macroeconomic stability.

👉 It seems BCCI's decision aligns with the broader stance of authorities.

8️⃣ Fantasy sports gaming platforms, such as Dream11, MPL, and Games24x7, have been exempted from this prohibition.

9️⃣ The BCCI's decision to ban #crypto and betting platforms from sponsoring the Indian cricket team has sent shockwaves through the tech and sports worlds.

👉 It's a controversial move that will have lasting implications.

👉 Stay tuned for more updates!

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https://twitter.com/cryptokingkeyur/status/1669718582236938240