Isn't that saying blatantly "We can't control people in India so we are banning cryptocurrency". What is wrong with them though. They are only prolonging the inevitable. Indian citizens would still find a way to use cryptocurrency outside the radar of their government. Don't they know the user base of India? it's a lot and the money from those users are actually helping the country.
It is very sad indeed that the government has no interest in progress in this regard.
And of course, not just India, but most of the Asian countries are the same.
Not in the Philippines. At least the citizens are slowly starting to get used to Bitcoin and other cryptocurrency because of a certain wallet.
There are two possible scenarios. On the one hand, a complete ban on crypto can create a revolution among people, since in India most of the population are crypto users. On the other hand, the country will become a conservative and many will leave India to continue to earn money and build a business with the help of crypto, because India will block all opportunities for this.
That's what I am thinking. What would their government do if the citizens starts complaining since we all know that there is a lot of Indian are into cryptocurrency, maybe a lot more compared to other Asian country.