Quote from: Desmong on November 29, 2021, 10:16:30 AM

Quote from: titular on November 24, 2021, 08:24:56 PM

The FUD continues.

India is not banning bitcoin as an asset class as many have eluded to. Many news outlets find that this angle is far better for attracting clicks.

India is looking to ban bitcoin as a method of payment. Meaning they are just trying to protect the interests of their future CBDC. People in India will NOT be banned from buying or selling bitcoin. The government has NO interest in banning bitcoin as an asset.

Source: https://blockworks.co/india-crypto-ban-about-payments-not-the-asset-class/

If India has no plan to ban Bitcoin so why the rumor and sentiment of pulling it out from method of payment. Bitcoin is a universal asset and I don't think the India government can actually stop it from use as a payment method. Individual traders and customers would determine whether they want it as a method of payment or not and the government looking at it can not totally stop people from the use.

I think the Indian government has a good solution for its economy by not sacrificing the local currency. Indian society can adopt bitcoin as much as possible and the government does not prohibit it, but prohibits bitcoin from being a legal tender or payment. On the other hand, the government will benefit from FUD which continues to circulate among the community, with the poverty rate continuing to decrease.