Union Minister of India favours crypto ban

[Yugocean]

India's Union Finance Minister says that a high-level committee has suggested banning all private cryptocurrencies in India.

The Reserve Bank of India is also trying to find out what benefits will come from bringing digital currency and how useful it will be.

The RBI internal committee is looking into ways to release its digital currency and will make its recommendations soon.

According to the minister, all necessary steps will be taken to end the activities of crypto assets and only the government issued digital currency will be approved in India.

TIme will tell what will happen and what kind of ban they will try, Indian crypto set-ups may lose their business or just move to government currency.

 

[sincerem]

India's Union Finance Minister says that a high-level committee has suggested banning all private cryptocurrencies in India.

The Reserve Bank of India is also trying to find out what benefits will come from bringing digital currency and how useful it will be.

The RBI internal committee is looking into ways to release its digital currency and will make its recommendations soon.

According to the minister, all necessary steps will be taken to end the activities of crypto assets and only the government issued digital currency will be approved in India.

TIme will tell what will happen and what kind of ban they will try, Indian crypto set-ups may lose their business or just move to government currency.

Hmm dear, thus one will be tricky enough for the crypto exchange platforms in your country, cos they'll be losing out. Your country's government knows the best, but i don't think it's right banning the worldwide digital currency. Then trying to create their own digital coin to represent them in the digital world currency. My eyes are still open, I'll be here to see how that plan gonna be utilized and carried out.

 

[Ekuvero]

When other developed countries are making cryptocurrency as a medium of payment undeveloped and developing countries are banning cryptocurrency. They don't know they is a lot of job opportunities associated with crypto and its key role it does play in the world economy right now. imagine Tesla buying a mouthwatering sum of $1.5bn worth of btc cause they do see the importance and the surge in price. The India government should deliberate on this issue sensitively before they make decisions on banning it. They should put into consideration its benefit to unemployed citizen

 

[btaliat]

I don't even knoe how African and Asian countries always reason. While most countries are trying to embrace the future, they are busy romancing the past. Kenya, a small country that only depends on tourism just support the usage of cryptocurrencies. This government won't provide jobs and still won't allow the youth to utilize the opportunity that they have. Seriously, it is a shame.