Quote from: avikz on April 23, 2023, 02:46:13 PM

Crypto has a long way to go in India, to be honest. The current government has no plan to make it a legal tender. Rather they will be more than happy to ban it. The looby of RBI is very strong in India and they will not allow crypto to become a legal tender till their last breath.

This precisely the point. RBI is completely against the use of Bitcoin and the current government on the other hand don't have a choice rather than accepting the trade of cryptocurrencies because the motto of a borderless currency is that it cannot be controlled and they are absolutely free from government intervention. But, to minimize the usage the government has imposed huge tax slabs which has faced severe backlash.

As a hardcore Bitcoin/digital asset maxi the end of INR/any fiat currency is what I wish for but this won't happen until the enthusiasts/exchange owners revolt against the government just like how the American or European counterpart does. The western and European users of bitcoin in general hate their country's fiat currency to the maximum but how many Indian bitcoin users are doing that? This clearly shows that, enthusiasts aren't increasing rapidly but the majority has been trading digital currencies only for their personal gain.

Coinbase has been slamming the SEC for over a month or so and this move would obviously be beneficial to the people of US because if once a clear rulebook has been put in place, more and more users of US would start using cryptocurrencies. But to the contrary, when Bitcoin was banned by the government back in 2018 the Indian exchanges ran away from the country and built their companies in various off-shore locations like the Middle East and Singapore instead of fighting the corrupt government Grin