Post
Topic
Board Bitcoin Discussion
Re: India looking to Re-ban Bitcoin
by
Shimmiry
on 16/09/2020, 03:40:08 UTC
Looks like is India is going full circle and trying to ban Bitcoin  again after the supreme court over ruled the previous ruling by central bank of india in March.

They also seem to be taking the blockchain good bitcoin bad argument. Some governments just don't know when to stop.

Im guessing they will be another battle in the supreme court which will carry on for another 2-3 years ridiculous.

Source :
https://www.bloomberg.com/news/articles/2020-09-15/india-plans-to-introduce-law-to-ban-trading-in-cryptocurrency?srnd=premium-asia

India is just too afraid of the capability of cryptocurrency and with the power and profit it could give to traders, in which they cannot imply nor track all of the Indian or any people that resides to india that trades with crypto and gains in it, nor tax them with such activities. All they can think of is banning it, it wouldn't take years if they would simply ban it with the India's Internet Service Providers or Telecom Companies, unless the court would progress slow with the investigations and the implementations of the law. It's a normal case in many countries, but it usually just fades away with the fact that they couldn't handle the vast network of crypto.