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'.
Doesn't this mean that our freedom and right to use our money is severely restricted? And is it true that they will actually track where we are using those crypto assets? Will the crypto be banned or the person? What if only a few people use it for criminal purposes? Will it have an impact on the crypto asset ban even if only a few people or maybe 1 person violates it?
You need to see beyond that, they do not care at all about those things, what they really care about is that what the average person is doing with their money does not escape their gaze, this is why they hate bitcoin since it gives the power back to the people, so when you see things from that perspective it makes complete sense that despite the fact that most of the financial crimes are performed wit fiat so much emphasis is put on those transactions supposedly being common place in this market.