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/
India's fear is almost the same as the Chinese fear. they are very afraid that their CBDC will not sell well if bitcoin is allowed as legal tender in their country 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/
The good news that I have noticed is that currently the bitcoin price will no longer be influenced by conditions that occur in a country, it doesn't matter if they want to get banned bitcoin because their FUD is no longer effective