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In a huge 180, Indian governnment officials announce statement that they welcome innovation and new technology in blockchain and cryptocurrency. They firmly believe that they must always evaluate, explore and encourage new ideas with an open mind

In a huge 180, Indian governnment officials announce statement that they welcome innovation and new technology in blockchain and cryptocurrency. They firmly believe that they must always evaluate, explore and encourage new ideas with an open mind



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25 Comments

  1. I wish that these kinds of things would make the news in the “real” world. On the “news” channels that most people watch. When that happens the mass adoption will accelerate.

  2. Any government must realize they get a shit load of taxes via any crypto trade or business or venture or anything crypto related. Its basically free money to add to the coffers.

    India are the emerging tech country in the world, fuck me the shit they can do with an unregulated crypto space it would be something fucking amazing.

  3. A huge sigh of relief that such a big country didn’t pull a ban. They still have a lot to fix, though. Apparently up until recently Indians couldn’t even buy crypto with the Indian rupee and had to resort to black markets for it.

  4. I was hoping the ban would get lifted, but I mean, come on. Like four days ago, you guys are talking about banning crypto. Now it’s a technological innovation?

    maybe they were hoping for a price drop ![gif](emote|emo_pack_1|dyor)

  5. I think the Indian government is finally starting to wake up and realize the good a free market economy does for their country, which explains this sudden reversal in decision. They also passed a whole bunch of privatization reforms during this Covid mess to help grow their manufacturing sector so it seems like they’re finally learning the error of their ways. Hopefully they keep going forward with the economic freedom mantra, it’ll do their country a whole lot of good.

  6. BTC does nothing to diminish or f over a centralized national currency (CBDC). The price fluctuates too much. People **WANT** a stablecoin in their national currency (assuming their currency isn’t dogshit). Banning all cryptos is just so stupid. Rather than that, encourage BTC mining. Encourage domestic ASIC production. Encourage setting up mines by natural energy resources.

    There’s a billion people in India… like there’s so much opportunity. There’s no reason they can’t and shouldn’t get behind these technologies and encourage a national uplifting or make them a global player.

    I’m glad they are pulling a 180.

  7. There has to be a catch. Suits always talk in a way that normal people would need some mental gymnastics to figure their speech.

    *”Open to evaluate”* is pretty much a word that would trigger FUD… and FUD would mean that Indian’s HODLing cyrptocurrency, selling in fear that the police coming after you would mean that the price drops. If the price drops, the government buys em. Profit, and legal.

  8. Go Google “bitcoin” in Google Trends and just look at Nigeria. They know something big is coming, and it’s their only way out, and you know what? I hope they come out on top.

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