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India HAS NO PLANS to BAN Bitcoin as an asset class. Only as payment method (protect their CBDC)

India HAS NO PLANS to BAN Bitcoin as an asset class. Only as payment method (protect their CBDC)



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14 Comments

  1. Not sure why they have an illusion that they can ban Bitcoin.

    India has a population of over a billion.
    They currently have a large big slosh of fiat currency transaction economy as an unorganized sector that pretty much holds up their economy.
    Bitcoin will just go underground and become a part of that giving them more privacy than fiat.

    It is a losing game for them from the start, it seems.

  2. tldr; India’s government has proposed a bill to create a legislative framework to regulate cryptocurrency as a security while prohibiting it as a payment method. The bill, titled the “Cryptocurrency & Regulation of Official Digital Currency Bill 2021” is identical to one proposed in Parliament last year in New Delhi. However, no blanket ban is proposed on other currencies.

    *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

  3. Cryptocurrencies can be used as a speculation but not as a currency. Or in other words, you are allowed to lose your wealth no problem, but no way you can take my control over your finances.

What do you think?

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