Indian Officials Met to Discuss Possible Ban on 'Private Crypto"

[davinmark]

Hello Stakers!

So today I just read some news from India, which is the Indian government is considering imposing a ban on what it calls private cryptocurrencies in the country.

In the discussion, the council was briefed by a high-level committee chaired by the economic affairs to come up with an appropriate legal framework for the use of private crypto currencies in India.
The meeting comes as the cryptocurrency industry in India is already in crisis following from April 2018

 

Whats your thought?

Source : https://www.coindesk.com/indian-officials-met-to-discuss-possible-ban-on-private-cryptocurrencies/

[wry]

This will be the second or third time India has basically banned it.  Only China has banned it more. 

I always view this as contrary indicators, if a national government, especially one that repudiated its OWN money a couple of years ago is down on crypto, it probably shows that crypto is potentially a great benefit for that country's people.  Hopefully this will not hurt too many Indians in the long run.

[williamshennie9]

I think Indians will still find a way to use and trade with cryptos. The beauty of cryptos is that is mostly anonymous, if used via a VPN, and can have serious benefits for those living in countries with corrupt governments.