Union Finance Ministry has take a decision on a state-issued cryptocurrency soon but ban all private cryptocurrencies. The VHP leader had sought a ban on all cryptocurrencies alleging its usage to fund terrorism, drugs and other 'anti national activities'. As all private cryptocurrencies are still not considered as legal tender or coin in India, but the govt may introduce an official digital currency in India.
It’s unnecessary for them to ban bitcoin and other cryptocurrencies. I know that majority of them these days now wants to create their own digital currencies (CBDC), but that is not enough reason for them to ban bitcoin. If they are saying that bitcoin is being used for funding terrorism, drugs, and other antinational activities, then they should prove it.
Do they have any proof at all that it has been used for one of those in any way, thereby affecting the country? If they do, then they should provide the proof that shows that what they have said is the truth. Not just making assumptions all the time to put things in their favour, it doesn’t make any sense at all.